Risk Management Plan Project Name Last Updated Overview Provide an overview of the process you plan to employ to manage risk, what roles will be involved, what the procedures will be and how you will measure the impacts of risk. Include the name of your project, and indicate the version of plan and illustrate how each new version will be indicated. ‹#› PGMT 530 Risk, Procurement and Contracts Risk Management Plan Process Describe the process you plan to employ to manage risks. Will existing meetings/groups be leveraged in order to alleviate meetings? What will be the escalation procedures. ‹#› PGMT 530 Risk, Procurement and Contracts Risk Management Plan Roles and Responsibilities Describe who will be involved with the risk management process. What roles and teams are required? Are meetings required? If so, how often? ‹#› PGMT 530 Risk, Procurement and Contracts Risk management Plan Communications Strategy Describe what methods will be used to communicate on issues. Will existing meetings be used? What will the escalation procedures be? ‹#› PGMT 530 Risk, Procurement and Contracts Risk Management Plan Rules/Procedures Describe the rules or procedures the team must follow when logging, managing, and assessing risk. Should all risks be submitted to the project manager? What mechanism will be used to log risks? ‹#› PGMT 530 Risk, Procurement and Contracts Risk Management Plan Risk Impact Analysis Approach Describe the process that will be used to assess the impact of each risk. Who will be involved in this impact analysis? ImpactTimeOccurrence Probability Rank (Impact x Occurrence probability = RankHigh – 3Greater than 3 months delay of schedule (3)Very likely greater than 70% or 53x70%=2.1Medium - 21-3 month delay in implementation (2)Probable – 30 to 70%Low – 11 week to 1 month delay in implementation (1)Unlikely ‹#› PGMT 530 Risk, Procurement and Contracts Risk Management Plan Reporting Format Describe the elements of your reporting format. Describe the elements of the format to provide approval of the plan ‹#› PGMT 530 Risk, Procurement and Contracts <Project Name> Risk Management Plan Version: 1.0 Error! Unknown document property name.<Project Name>Risk Management Plan Version Number: 1.0 Version Date: <mm/dd/yyyy> Notes to the Author This document is a template of a Risk Management Plan document for a project. The template includes instructions for the proper preparation of your complete risk management plan. Failure to address all of the sections will result in a deduction of points. Project Description Please describe the project that will be the subject of your risk management plan.VERSION HISTORY Provide information on how the development and distribution of the Risk Management Plan will be controlled and tracked. Use the table below to provide the version number, the author implementing the version, the date of the version, the name of the person approving the version, the date tha ...

1. Risk Management Plan
Project Name
Last Updated
Overview
Provide an overview of the process you plan to employ to
manage risk, what roles will be involved, what the procedures
will be and how you will measure the impacts of risk. Include
the name of your project, and indicate the version of plan and
illustrate how each new version will be indicated.
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk Management Plan
Process
Describe the process you plan to employ to manage risks. Will
existing meetings/groups be leveraged in order to alleviate
meetings? What will be the escalation procedures.
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk Management Plan
Roles and Responsibilities
Describe who will be involved with the risk management
process. What roles and teams are required? Are meetings
required? If so, how often?

2. ‹#›
PGMT 530 Risk, Procurement and Contracts
Risk management Plan
Communications Strategy
Describe what methods will be used to communicate on issues.
Will existing meetings be used? What will the escalation
procedures be?
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk Management Plan
Rules/Procedures
Describe the rules or procedures the team must follow when
logging, managing, and assessing risk. Should all risks be
submitted to the project manager? What mechanism will be
used to log risks?
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk Management Plan
Risk Impact Analysis Approach
Describe the process that will be used to assess the impact of
each risk. Who will be involved in this impact analysis?
ImpactTimeOccurrence Probability Rank
(Impact x Occurrence probability = RankHigh – 3Greater than 3
months delay of schedule (3)Very likely greater than 70% or
53x70%=2.1Medium - 21-3 month delay in implementation

3. (2)Probable – 30 to 70%Low – 11 week to 1 month delay in
implementation (1)Unlikely
‹#›
PGMT 530 Risk, Procurement and Contracts
Risk Management Plan
Reporting Format
Describe the elements of your reporting format. Describe the
elements of the format to provide approval of the plan
‹#›
PGMT 530 Risk, Procurement and Contracts
<Project Name> Risk Management Plan
Version: 1.0 Error! Unknown document property name.<Project
Name>Risk Management Plan
Version Number: 1.0
Version Date: <mm/dd/yyyy>
Notes to the Author
This document is a template of a Risk Management Plan
document for a project. The template includes instructions for
the proper preparation of your complete risk management plan.
Failure to address all of the sections will result in a deduction
of points.
Project

4. Description
Please describe the project that will be the subject of your risk
management plan.VERSION HISTORY
Provide information on how the development and distribution of
the Risk Management Plan will be controlled and tracked. Use
the table below to provide the version number, the author
implementing the version, the date of the version, the name of
the person approving the version, the date that particular
version was approved, and a brief description of the reason for
creating the revised version.
Version
Number
Implemented
By
Revision
Date
Approved
By
Approval
Date
Description of
Change
1.0
<Author name>
<mm/dd/yyyy>
<name>
<mm/dd/yy>
<description of change>

5. TABLE OF CONTENTS
41.0INTRODUCTION
41.1Purpose Of The Risk Management Plan
42.0risk management Procedure
42.1Process
42.2ROLES AND RESPONSIBILITIES
52.3Risk Identification
52.3.1Methods for Risk Identification
62.4Risk Analysis
62.4.1Qualitative Risk Analysis
62.4.2Quantitative Risk Analysis
62.5Risk Response Planning
72.6Risk Monitoring, Controlling, And Reporting
82.7Risk Contingency Budgeting
83.0Tools And Practices
84.0Closing a Risk
95.0Lessons Learned
10Appendix A: Risk Management Plan Approval
11APPENDIX B: REFERENCES
12APPENDIX C: KEY TERMS1.0 INTRODUCTION
1.1 Purpose Of The Risk Management Plan
This Risk Management Plan defines how risks associated with
the project will be identified, analyzed, and managed. In this
section, you should outline how risk management activities will

6. be performed, recorded, and monitored throughout the lifecycle
of the project and describe at a high level the process to be used
to record and prioritize risks by the Risk Manager and/or Risk
Management Team.
2.0 risk management Procedure
2.1 Process
In this section, you are to summarize the steps necessary for
responding to project risk.
2.2 ROLES AND RESPONSIBILITIES
In this section, you are to complete the roles and
responsibilities chart, by describing the roles of the key players
in your projects risk management program – i.e. Business SME,
Project Manager, etc. and describe their responsibilities with
respect to risk management on your project.
Role
Responsibilities
2.3 Risk Identification
In this section, you are to identify who will be responsible for
identifying risk, and provide a description of what information
will be used to help to identify project risk – such as
environmental factors, cost estimates, etc. a complete list
should be included.

7. 2.3.1 Methods for Risk Identification
In this section, you are to identify what specific methods will be
used to assist in the identification of risks associated with your
project. A complete list should be included.
The following methods will be used to assist in the
identification of risks associated with <Project Name>:
2.4 Risk Analysis
In this section, you are to generally describe how risks will be
analyzed and describe how risks will be prioritized by their
level of importance.
2.4.1 Qualitative Risk Analysis
In this section, you are to describe how you will use Qualitative
Risk Analysis to conduct an analysis of potential risks to your
project. You are to provide a description of who will conduct
this analysis, who will assess the results of the analysis, and
describe how you will define Probability and Impact – i.e. what
scales will you use? You should also describe the priority level
of risks that will require a risk response and contingency plan.
Probability
Impact
2.4.2 Quantitative Risk Analysis
In this section, you are to describe how you will use
Quantitative Risk Analysis to conduct an analysis of potential
risks to your project. You are to provide a description of who
will conduct this analysis, who will assess the results of the
analysis, and describe how you will define Probability and
Impact – i.e. what scales will you use? You should also describe

8. the priority level of risks that will require a risk response and
contingency plan.2.5 Risk Response Planning
In this section, you are to describe how you will conduct risk
response planning. This should include how and to whom risks
will be assigned, the approach(es) to be used to address each
risk. 2.6 Risk Monitoring, Controlling, And Reporting
In this section, describe the methods and metrics that will be
used to track the project’s risk status throughout the lifecycle as
well as how this status will be reported to the stakeholders/
management. List factors that would need to be escalated to
management. Examples: documented mitigation actions are not
effective or producing the desired results; the overall level of
risk is rising. This section should also include a description of
how and where risk activities will be recorded and who will
have access to this information.2.7 Risk Contingency Budgeting
In this section, you are to provide the appropriate information
to effectively outline and define the budget associated with the
Risk Management activities on the project. You should identify
the total budget allocated to risk management and identify how
the budget can be accessed. You should also describe who has
the authority to authorize expenditures.3.0 Tools and Practices
In this section, you are to describe what tools and techniques
will be used to record and track risks and who will be
responsible for maintaining the information. You should also
describe the process to be used in reviewing risks.4.0 Closing a
Risk
In this section, you are to describe the criteria associated with
determining when a risk can be closed and identify who has the
authority to close a risk.5.0 Lessons Learned
In this section, you are to describe how lessons learned will be

9. identified and recorded and where this information will be
stored.
Appendix A: Risk Management Plan Approval
In this section, you are to prepare a format for, and describe
who, will be responsible for reviewing and signing off on the
plan. You should be sure to list the individuals whose signatures
are desired. Examples of such individuals are Business Owner,
Project Manager (if identified), and any appropriate
stakeholders. Add additional lines for signature as necessary.
APPENDIX B: REFERENCES
In this section, you are to utilize the table to list the documents
associated with your risk management plan. Include the name
of the document, a brief description of the document, and where
the document will be physically located for staff to access each.
You are to list at least three documents that you will use in the
risk management planning of your project.
The following table summarizes the documents referenced in
this document.
Document Name
Description
Location
<Document Name and Version Number>
<Document description>
<URL or Network path where document is located>
APPENDIX C: KEY TERMS

10. In this section, you are to list the terms and a definition for each
one used in your risk management plan. You are to list at least
three terms and their associated definitions. You are to select
the terms which you believe may be the most difficult to
understand or may offer a double meaning.
Term
Definition
[Insert Term]
<Provide definition of term and acronyms used in this
document.>
[Insert appropriate disclaimer(s)]
PAGE
Revision Date: Error! Unknown document property name.Page 2
of 8
EPLC_Risk_Management_Plan_TemplateT.doc