Project Risk Planning: Craft a plan for identifying and monitoring risk. In your plan, you could consider:
1. The amount of uncertainty in the project and how to deal with it
2. The threats of greatest concern
3. How each threat should be dealt with,
Risk Control: Determine corrective actions and controls to deal with uncertainty and its impact on the project, based on your risk plan. Ideas to consider may include:
1. Appropriate quantification of the risks (probability vs. impact)
2. Contingency funding or time buffers in place to handle threats.