In the PMBOK® Guide, the process of Plan Risk Responses is defined as the process of developing options, selecting strategies, and agreeing on actions to address overall project risk exposure, as well as to treat individual project risks.
The tools and techniques for this process are categorized based on whether they address individual risks or the project as a whole:
Strategies for Overall Project Risk: This is a primary tool/technique used to address the combined effect of all individual project risks and other sources of uncertainty. Strategies include Avoid, Exploit, Transfer/Share, Mitigate/Enhance, and Accept.
Strategies for Individual Project Risks: Similar to overall strategies, these focus on specific threats (Avoid, Transfer, Mitigate, Accept) or opportunities (Exploit, Share, Enhance, Accept).
Contingent Response Strategies: Responses provided only if certain events occur (also known as " Plan B " ).
Analysis of other options:
Risk categorization (Option A): This is a tool used in the Perform Qualitative Risk Analysis process to group risks by sources or work packages to help focus the team ' s efforts.
Project risk document updates (Option B): This is an Output of the Plan Risk Responses process (specifically updating the Risk Register and Risk Report), not a tool or technique.
Risk management plan (Option D): This is an Input to the Plan Risk Responses process. It provides the framework, roles, and responsibilities, but it is not the technique used to actually design the response.
Per PMI standards, the core " action " of the Plan Risk Responses process is selecting the appropriate strategies to bring the project ' s risk exposure within acceptable thresholds.
