Assignment 4: Main Risks of Entrepreneurial Activity Registration Documents Identify the specific registration documents required for starting a business in the Fergana region

Develop a risk management plan specifically addressing the risks associated with registration documents for entrepreneurial activities in the Fergana region.
You identify them, record them, monitor them and plan for them: risks are an inherent part of every project. Some project risks are bound to become problem areas—like executing a project over the holidays and having to plan the project timeline around them. But there are many risks within any given project that, without risk assessment and risk mitigation strategies, can come as unwelcome surprises to you and your project management team.
That’s where a risk management plan comes in—to help mitigate risks before they become problems. But first, what is risk management?
What Is Risk Management?
Risk management is an arm of project management that deals with managing potential project risks. Managing your risks is arguably one of the most important aspects of project management.
The risk management process has these main steps:
Risk Identification: The first step to manage project risks is to identify them. You’ll need to use data sources such as information from past projects or subject matter experts’ opinions to estimate all the potential risks that can impact your project.
Risk Assessment: Once you have identified your project risks, you’ll need to prioritize them by looking at their likelihood and level of impact.
Risk Mitigation: Now it’s time to create a contingency plan with risk mitigation actions to manage your project risks. You also need to define which team members will be risk owners, responsible for monitoring and controlling risks.
Risk Monitoring: Risks must be monitored throughout the project life cycle so that they can be controlled.
If one risk that’s passed your threshold has its conditions met, it can put your entire project in jeopardy. There isn’t usually just one risk per project, either; there are many risk categories that require assessment and discussion with your stakeholders.
Related: Risk Tracking Template
That’s why risk management needs to be both a proactive and reactive process that is constant throughout the project life cycle. Now let’s define what a risk management plan is.