BSBRSK501

and project sponsors we will ensure that the risk has been analyzed and managed throughout the life of the project. Thus to ensure that the risk is duly contained each and every member of the team will have his role well cut out for her or him. Roles and Responsibilities Risk Manager- The Risk Manager or PM will determine if the Risk is unique identify the risk interdependencies across projects verify the nature of the risk and assign a risk classification. They continually monitor the projects for potential hazards. Integrated Project Team- The IPT will be charged with the responsibility of identifying the risks the risk dependencies of the risk within the project and consequence of the risk. They will also be responsible for determining the impact timing and priority of the risk as well as formulating the risk statements. Risk Owner(s) - The risk owner will determine which risks require mitigation and contingency plans; he/she will generate the risk mitigation and contingency strateg...