The first phase of a comprehensive project risk assessment should be:
To develop reasonable estimates of the impacts on the project of both the identified risks and the proposed solutions.
To assess the specific sources of risk at the outset of the project, including the need to fashion appropriate responses.
To produce a project risk management plan that proactively offers risk mitigation strategies for the project as needed.
To make sure the project is well defined, including all deliverables, statement of work, and project scope.
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