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What should be included in the risk management plan?

I want to know what should be included in the risk management plan, I assume what should be included is the following:

- The risks
- The likeliness of happening of each risk
- The impact of each risk on the project
- What actions should be taken should these risks occur

Let me know if I'm wrong...

I appreciate anyone's feedback on this matter, and if you think I missed/added something that should've been/shouldn't have been there....
asked 9 years ago by anonymous

1 Answer

There is no standard template for this document but this would usually contain the following sections-
Purpose of the document
Stakeholder Roles & Responsibilities relating to Risk Management
Risk Management Task & Ownership of the task
Risk assessment matrix - This would be a table with columns such as
Risk, Probability , Impact (High/Medium/Low), Owner, Mitigation Strategy
Risk Management Plan Approvals i.e
  Prepared By ____________
  Approved By ______________
 (Usually prepared by Project Manager and approved by Project Sponsor)
answered 9 years ago by dimple (2,920 points)

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