... Risk Planning categories, say 70% for high, 40% for medium, 10% for low. The PM can then discuss this reasoning with the stakeholders for any specific risks for which the probabilities appear ... 7,200100% $ 73, 500 c) 58.8% x $125,000 -$ 30 0 d) 1.2% x -$25,000 $155,000 $ 60,760 e) 39 .2% x $25,000 $ 200 f) 0.8% x $ 134 ,160100% Once the numbers have been determined for a specific ... this is time well spent early in the project planning. 2. Establishing risk management strategy The project team should establish a strategy, preferably beforehand, to define how risks will...