Risk Management Module
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Table of contents
1. Introduction
1.1 Purpose of the Risk Management Plan
Risk owners, assumptions, risk roles, etc.)
2. Risk Identification
& Assessment
2.1 Risk Identification and Assessment Process
3. Risk Analysis
3.1 Risk Analysis Process
4. Risk Planning (Response Plan)
5. Risk Control
5.1 Tracking Existing Risks
5.2 Identifying New Risks
5.3 Risk Notifications
6. Appendix A
See Risk Assessment Checklist MS Excel Spreadsheet
See Risk Response Plan MS Word Document
See Risk Log MS Excel Spreadsheet
7. Risk Management Plan Acceptance
1. Introduction
This document is to be reviewed and approved by designated stakeholders at the end of the design phase. Please see the Risk Management Plan Acceptance page at the end of this document.
1.1 Purpose of the Risk Management Plan
The risk management plan communicates the plan that will be used to manage project risks. It describes the procedures to be followed to identify and address new risks and to mitigate and re-evaluate existing risks.
2. Risk Identification and Assessment
Risk Identification
The purpose of the risk identification process is to name and describe the specific risks that are faced in a project. As the project progresses and once the Project Team is created, the Project Manager meets with the Project Team and selected stakeholders to review the plan and to identify possible risks to the plan.
The Risk Assessment Checklist (where every assumed project risk should already be listed) will be used as the first step in identifying risks. If a risk is not listed in the Risk Assessment Checklist, it will be added here. The Risk Assessment Checklist will be updated using the following means:
- Existing list of risk items
- Project Team’s experience and written lessons learned documents from past projects to generate more risk items.
- Brainstorming sessions with the Project Team which then will expand to include key stakeholders and others affected groups
At the end of the project, the final list of risk items may be used by future project managers to use during their risk identification phase of new projects
Risk Assessment
Those risks that need to be managed will be identified with a checkmark in the “Managed” column of the Risk Assessment Checklist document, and then transferred to the Risk Log for analysis (see Risk Analysis).
To order the complete Risk Management Module which includes all the necessary templates and processes, click here: << RISK MODULE >>