Risk Management Plan
1. Introduction
This document outlines the process for identifying, analyzing, and responding to project risks.
2. Risk Identification
Risks will be identified through brainstorming sessions, interviews with stakeholders, and a review of lessons learned from past projects.
3. Risk Register
A risk register will be maintained to track all identified risks.
| Risk ID | Description | Probability (1-5) | Impact (1-5) | Risk Score | Owner | Response Plan |
|---|---|---|---|---|---|---|
4. Risk Response Strategies
- Avoid: Eliminate the threat by changing the project plan.
- Mitigate: Reduce the probability or impact of the risk.
- Transfer: Shift the risk to a third party (e.g., through insurance).
- Accept: Acknowledge the risk and do not take any action unless it occurs.
5. Risk Monitoring and Control
The project manager will be responsible for monitoring the risks in the risk register and for implementing the risk response plans.