PMI-RMP Certification Training - Risk-Related Contract Decisions and Project Management

The video tutorial discusses the importance of risk response in project management, focusing on how it affects contract selection and necessitates updates to the project management plan and documents. It provides guidelines for creating a risk response plan, including identifying risks, choosing effective strategies, and developing contingency plans. The tutorial emphasizes the integration of risk response plans into the overall project management plan and concludes with reflective questions on the significance of these efforts in the project lifecycle.

What are the five risk response strategies for threats and opportunities?

What is the significance of having a trigger detailed for each contingency plan?

How can the risk management plan be integrated into the overall project management plan?