Article on project risk management

1)Developing risk evaluation criteria specific to a product/program,

2)Holding a risk identification session using techniques proven successful on multiple commercial and military product development programs,

3)Evaluating the risks against the product/program specific risk evaluation criteria without being overwhelmed by analysis,

4)Applying risk response strategy(ies) and developing risk response plans to address a given risk item,

5)Monitoring and controlling the risk response plan execution process through the use of trigger events, Red/Yellow/Green (R/Y/G) summaries, etc. to minimize cost while maximizing impact

Explain the above with practical and real time examples