To manage risks, project managers create one of two strategies:
mitigation strategies or contingency plans. Mitigation strategies are
for risks that are likely to occur; the goal is to minimize the impact
of the risk. Contingency plans are for risks that might
not occur, but that the project team should be prepared for.
Before you begin
Use the Risk Management viewlet
to perform this task. In the navigation bar, click Work,
and click the Risk tab.
About this task
You can plan and apply strategies to minimize the effects
of risks on projects. When you create a risk action for a mitigation
strategy or contingency plan, you can also assign a work item for
the risk action. For example, if you face the risk of attrition, you
can add a risk action against attrition and then create related work
items, such as a work item to conduct interviews.
To add a strategy:
Procedure
- From the WBS tree, select a project. The name
of the selected project is displayed on the top of the Risk management
viewlet. Risks that are created under the project are displayed in
the top pane of the viewlet.
- Click a risk name.
- In the Strategies section, from the drop-down list, select
a risk strategy type.
- Click the Add icon
. To
add multiple risk strategies to the risk, click the Add icon
multiple times.
- Name the risk strategy.
- Click Save.
What to do next
You can now create work items that are related to your risk
actions. After these work items are created in the Risk view, you
can manage these work items in the project WBS.
To delete a risk
strategy, in the list of strategies, hover your mouse pointer over
the strategy, click the
Delete icon

,
and click
Save.
Note: You cannot delete risk
strategies that are associated with work items.