Question

Whose responsibility is it to manage risks? Obviously, the PM plays a large role in that, but often other entities need to be involved as well. What role does communication play in the risk management plan? Please provide a source for your answer.

Answer 1

Q.1. Whose responsibility is it to manage risks?

Answer: Apart from Project Manager there are other entities who share responsibility of risk management which are follows:

• Project Team Members, they are responsible for the risk of their individual working.
• Sponsors, they are responsible for risk related to project budget.
• Analyst, they are responsible for not meeting the requirement and not providing correct solutions,
• Project Designer, they are the one who plans and design the project and have huge level of responsibility of risk management, etc

Q.2. What role does communication play in the risk management plan?

Answer: Following are the roles of communication in risk management plan:

• Communication prevents the risk from arising,
• Leads to Smoother implementation of the project,
• Have clear knowledge about risk and its effects,
• Consistent and transparent risk management decision-making,
• Results in improved efficiency of risk analysis,
• Well maintained communication with team members and other stakeholders,,etc