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Risk management: should it start in the planning stage?

As we both know Risk definition is difficult with risk management, allowing users to set contingencies for risk. Although not foolproof, it allows management of risks throughout a project's lifecycle. Consider risk management as a process—its benefits, its level of importance between projects, and the effects when it is not present. Think about how a project must utilize risk management in all of its life cycle.
How much risk management would you consider prior to project initiation and why?
Is it possible to plan for all known risks? Why or why not?

Solution Preview

Risk management is a necessity from the planning stage of a project to help acknowledge and address expected risks and known risks. It also helps develop a template for possible risks associated with a project. Risks, while expected, are not always identifiable. However, the most likely can be considered and solutions already put in place if they are needed. Not every risk will be the same in every project.

Risk management considers risk, and how it affects the process, the budget, and the project. During the planning stage, it is necessary to make risk management planning part of the process. If ignored, problems arise leaving ...

Solution Summary

A discussion of risk management and if it should start in the planning stage and can all risks be known?