Assume you have just been assigned to a project risk team composed of five members. Your task, as project manager, is to develop a process for handling risks to the project. Because this is the first time your organization has formally set up a risk team for a project, it is hoped that your team will develop a process that can be used on all future projects. Your first team meeting is next Monday morning. Each team member has been asked to prepare for the meeting by developing, in as much detail as possible, an outline that describes how you believe the team should proceed in handling project risks. Each team member will hand out his or her proposed outline at the beginning of the meeting. Your outline should include, but not be limited to, the following information:

As the work of your risk management team (from the first discussion question) continues, the discussion of your team's risk management plan outline moves on and considers the following questions: How should the risks be prioritized? Who should do the prioritization of the project risks? How should project risks be monitored and controlled? Who should develop risk responses and contingency plans? Who should own these responses and plans?