Risk Management Plan Template

Risk Management Plan Template

How to Use This Document: 

This document is a template for building your project document. This template has been reviewed and accepted, but the sections and subsections may be modified to scale to the size and complexity of your project. Please rename this template and save the file using a descriptive filename.
Some sections in this and other PMLC documents (such as Introduction, Project Purpose, and Project Background) may appear to be redundant between documents. These sections are considered essential to allow each document to stand alone and provide basic information about the project. Please feel free to cut and paste content from such sections in other documents where appropriate. 

Some sections and subsections in this document may include guidance on how to use the section. All guidance is shown in blue 11 pt Arial font. Once you have read and understood the guidance, please delete it and replace it with your text. Some sections and subsections may include bracketed text to represent information which is variable across projects. Please replace bracketed text (including the brackets) with the content for this project. 

Some sections and subsections may include boilerplate text. Boilerplate text is suggested language that may be used, modified, or discarded to conform to the particulars of your project. 

This Risk Management Plan provides the project with a consistent method to manage risks to ensure success. Risk management is the processes for identification, assessment, mitigation, tracking, control and management of the project's risks. It drives decisions that affect the development of the business capability and the management of the project.
Specific objectives of this project’s Risk Management Plan include: 
  • Ensure critical risks impacting scope, schedule, budget, business performance, and/or change management are proactively identified, communicated, mitigated, and escalated in a timely manner. 
  • Facilitate attention to key risks impacting the project and individual teams. 
  • Produce meaningful information that allows project managers to focus efforts on the “right” (high likelihood and high impact) risks with an effective coordination of effort. 
  • Ensure appropriate stakeholders are informed and, if applicable, participate in the mitigation. 
  • Record an audit trail of discussions and mitigation of project risks.

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