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psm34 replied to the topic What is Risk Management Plan? in the forum Introduction to Project Management 7 years, 2 months ago
To add on to what aij5 has said, there is also legal liabilities that companies should make sure that they have covered. If a product goes out to market with known risks and they have made sure that the public knows about them and have warning labels and such on the product, they are less liable for legal action against them. If a drug goes to market with side effects goes to market after FDA approval, they limit the risk for legal action against them if the public knows the risks involved with taking the drugs and the patient assumes responsibility for his/her actions.