* Planning how risk will be managed in the particular project. Plan should include risk management tasks, responsibilities, activities and budget.
    * Assigning a risk officer - a team member other than a project manager who is responsible for foreseeing potential project problems. Typical                 
       characteristic of risk officer is a healthy skepticism.
    * Maintaining live project risk database. Each risk should have the following attributes: opening date, title, short description, probability and importance.  
       Optionally a risk may have an assigned person responsible for its resolution and a date by which the risk must be resolved.
    * Creating anonymous risk reporting channel. Each team member should have possibility to report risk that he foresees in the project.
    * Preparing mitigation plans for risks that are chosen to be mitigated. The purpose of the mitigation plan is to describe how this particular risk will be
       handled – what, when, by who and how will it be done to avoid it or minimize consequences if it becomes a liability.
    * Summarizing planned and faced risks, effectiveness of mitigation activities, and effort spent for the risk management.