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What is a “comprehensive risk management plan”?

April 26, 2017risk management

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What is a “comprehensive risk management plan”?

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A comprehensive risk management plan documents a thorough assessment of potential risks and opportunities, and the strategies to manage risks. It is a requirement for all procurements that are identified as Quadrant 2 or 4 (high risk) in the Acquisition Planning Guide. The State Procurement Board Risk Management Guideline provides information on the determination of risk and the appropriate treatment to align with the requirements of the Australian New Zealand Risk Management Standard AS/NZS 4360:2006.