What Is a Risk Management Plan?
In the risk management plan, you document the risks you have identified, the response plans for each of those risks, and the actions required. This document changes during the project as risks change, as you execute the response plans, and as conditions change.
As the project manager, you should look at this document regularly to determine whether any new risks should be added or old risks removed. You should also determine whether any of the response plans require change.
Your risk management plan is one of the key documents that a project reviewer checks for content and for evidence of updated activity.
Completing a Risk Management Plan
Various pieces of information exist for each risk event. In addition, a variety of formats are used to create the risk management plan. The following page shows a completed risk management plan in table form. To fill out this simple example, you would list the risks in the following columns:
You should use the more comprehensive plan format that WPMM provides. This plan is available at the WWPMM Web site.