Project Name Risk Management PlanVersion 1.0 Error! Unkno.docx

<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 to
the author, boilerplate text, and fields that should be replaced
with the values specific to the project.
· Blue italicized text enclosed in square brackets ([text])
provides instructions to the document author, or describes the
intent, assumptions and context for content included in this
document.
· Blue italicized text enclosed in angle brackets (<text>)
indicates a field that should be replaced with information
specific to a particular project.
· Text and tables in black are provided as boilerplate examples
of wording and formats that may be used or modified as
appropriate to a specific project. These are offered only as
suggestions to assist in developing project documents; they are
not mandatory formats.
When using this template, the following steps are
recommended:
1. Replace all text enclosed in angle brackets (e.g., <Project
Name>) with the correct field document values. These angle

brackets appear in both the body of the document and in headers
and footers. To customize fields in Microsoft Word (which
display a gray background when selected) select File-
>Properties->Summary and fill in the appropriate fields within
the Summary and Custom tabs.
After clicking OK to close the dialog box, update all fields
throughout the document selecting Edit>Select All (or Ctrl-A)
and pressing F9. Or you can update each field individually by
clicking on it and pressing F9.
These actions must be done separately for any fields contained
with the document’s Header and Footer.
2. Modify boilerplate text as appropriate for the specific
project.
3. To add any new sections to the document, ensure that the
appropriate header and body text styles are maintained. Styles
used for the Section Headings are Heading 1, Heading 2 and
Heading 3. Style used for boilerplate text is Body Text.
4. To update the Table of Contents, right-click on it and select
“Update field” and choose the option - “Update entire table”.
5. Before submission of the first draft of this document, delete
this instruction section “Notes to the Author” and all
instructions to the author throughout the entire
document.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>
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
A risk is an event or condition that, if it occurs, could have a
positive or negative effect on a project’s objectives. Risk
Management is the process of identifying, assessing, responding
to, monitoring and controlling, and reporting risks. This Risk
Management Plan defines how risks associated with the
<Project Name> project will be identified, analyzed, and
managed. It outlines how risk management activities will be
performed, recorded, and monitored throughout the lifecycle of
the project and provides templates and practices for recording
and prioritizing risks by the Risk Manager and/or Risk
Management Team.
Risks related to IT systems or applications must be identified
and documented based on the methodology in NIST SP 800-30,
Risk Management Guide for Information Technology Systems.
IT system or application weaknesses must be identified on an
associated plan of action and milestones (POA&M) and tracked
in accordance with HHS POA&M guidelines. Appropriate

protective measures must be taken to safeguard sensitive IT
system or application weaknesses or vulnerabilities from
unauthorized disclosure.
2.0 risk management Procedure
2.1 Process
[Summarize the steps necessary for responding to project risk.]
The project manager working with the project team and project
sponsors will ensure that risks are actively identified, analyzed,
and managed throughout the life of the project. Risks will be
identified as early as possible in the project so as to minimize
their impact. The steps for accomplishing this are outlined in
the following sections. The <project manager or other
designee> will serve as the Risk Manager for this project.
A distinction may need to be made between overall project risk
management and IT system or application risk management.
Risks related to IT systems or applications must be identified
and documented based on the methodology in NIST SP 800-30,
Risk Management Guide for Information Technology Systems.
2.2 ROLES AND RESPONSIBILITIES
Role
Responsibilities
Business SME (BSME)
The BSME assists in identifying and determining the context,
consequence, impact, timing, and priority of the risk.
Risk Manager or Project Manager (PM)
The Risk Manager or PM is a member of the Integrated Project
Team (IPT). The Risk Manager or PM determines if the Risk is
unique, identifies risk interdependencies across projects,
verifies if risk is internal or external to project, assigns risk
classification and tracking number. During the life of the
project, they continually monitor the projects for potential risks.
Integrated Project Team
The IPT is responsible for identifying the risks, the

dependencies of the risk within the project, the context and
consequence of the risk. They are also responsible for
determining the impact, timing, and priority of the risk as well
as formulating the risk statements.
Risk Owner(s)
The risk owner determines which risks require mitigation and
contingency plans, he/she generates the risk mitigation and
contingency strategies and performs a cost benefit analysis of
the proposed strategies. The risk owner is responsible for
monitoring and controlling and updating the status of the risk
throughout the project lifecycle. The risk owner can be a
member of the project team.
Other Key Stakeholders
The other stakeholders assist in identifying and determining the
context, consequence, impact, timing, and priority of the risk.
2.3 Risk Identification
Risk identification will involve the project team, appropriate
stakeholders, and will include an evaluation of environmental
factors, organizational culture and the project management plan
including the project scope, schedule, cost, or quality. Careful
attention will be given to the project deliverables, assumptions,
constraints, WBS, cost/effort estimates, resource plan, and other
key project documents.
2.3.1 Methods for Risk Identification
The following methods will be used to assist in the
identification of risks associated with <Project Name>:
· Brainstorming
· Interviewing
· SWOT (Strengths, Weaknesses, Opportunities and Threats)

· Diagramming
· Etc.
A Risk Management Log will be generated and updated as
needed and will be stored electronically in the project library
located at <file location>.2.4 Risk Analysis
All risks identified will be assessed to identify the range of
possible project outcomes. Risks will be prioritized by their
level of importance.
2.4.1 Qualitative Risk Analysis
The probability and impact of occurrence for each identified
risk will be assessed by the project manager, with input from
the project team using the following approach:
Probability
· High – Greater than <70%> probability of occurrence
· Medium – Between <30%> and <70%> probability of
occurrence
· Low – Below <30%> probability of occurrence
Impact
Impact
H
M

L
L
M
H
Probability
· High – Risk that has the potential to greatly impact project
cost, project schedule or performance
· Medium – Risk that has the potential to slightly impact project
· Low – Risk that has relatively little impact on cost, schedule
or performance
Risks that fall within the RED and YELLOW zones will have
risk response plan which may include both a risk response
strategy and a risk contingency plan.
2.4.2 Quantitative Risk Analysis
Analysis of risk events that have been prioritized using the
qualitative risk analysis process and their affect on project
activities will be estimated, a numerical rating is applied to
each risk based on quantitative analysis, and then documented

in this section of the risk management plan. 2.5 Risk Response
Planning
Each major risk (those falling in the Red & Yellow zones) will
be assigned to a risk owner for monitoring and controlling
purposes to ensure that the risk will not “fall through the
cracks”.
For each major risk, one of the following approaches will be
selected to address it:
· Avoid – Eliminate the threat or condition or to protect the
project objectives from its impact by eliminating the cause
· Mitigate – Identify ways to reduce the probability or the
impact of the risk
· Accept – Nothing will be done
· Contingency –Define actions to be taken in response to risks
· Transfer – Shift the consequence of a risk to a third party
together with ownership of the response by making another
party responsible for the risk (buy insurance, outsourcing, etc.)
For each risk that will be mitigated, the project team will
identify ways to prevent the risk from occurring or reduce its
impact or probability of occurring. This may include
prototyping, adding tasks to the project schedule, adding
resources, etc. Any secondary risks that result from risk
mitigation response will be documented and follow the risk
management protocol as the primary risks.
For each major risk that is to be mitigated or that is accepted, a
course of action will be outlined in the event that the risk does
materialize in order to minimize its impact.2.6 Risk Monitoring,
Controlling, And Reporting
The level of risk on a project will be tracked, monitored and
controlled and reported throughout the project lifecycle.
[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.]
Risks will be assigned a risk owner(s) who will track, monitor
and control and report on the status and effectiveness of each
risk response action to the Project Manager and Risk
Management Team on a <insert timeframe>.
A “Top 10 Risk List” will be maintained by the PM/Risk
Manager or IPT and will be reported as a component of the
project status reporting process for this project.
All project change requests will be analyzed for their possible
impact to the project risks.
As Risk Events occur, the list will be re-prioritized during
weekly reviews and risk management plan will reflect any and
all changes to the risk lists including secondary and residual
risks.
Management will be notified of important changes to risk status
as a component to the Executive Project Status Report. [State
timeframe, i.e., every two weeks]
The Risk Manager (PM) will:
· Review, reevaluate, and modify the probability and impact for
each risk item [timeframe, as needed, every two weeks, etc.]
· Analyze any new risks that are identified and add these items
to the risk list (or risk database).
· Monitor and control risks that have been identified
· Review and update the top ten risk list [timeframe, as needed,
every two weeks, etc.]
· Escalate issues/ problems to 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.]

The Risk Owner will:
· Help develop the risk response and risk trigger and carry out
the execution of the risk response, if a risk event occurs.
· Participate in the review, re-evaluation, and modification of
the probability and impact for each risk item on a weekly basis.
· Identify and participate in the analysis of any new risks that
occur.
· Escalate issues/problems to PM that,
· Significantly impact the projects triple constraint or trigger
another risk event to occur.
· Require action prior to the next weekly review
· Risk strategy is not effective or productive causing the need to
execute the contingency plan.
Risk activities will be recorded in the <Document Name/ Risk
Database Name> located on <full network path location>.
2.7 Risk Contingency Budgeting
A risk contingency budget can be established to prepare in
advance for the possibility that some risks will not be managed
successfully. The risk contingency budget will contain funds
that can be tapped so that your project doesn't go over budget.
There is a total of <$X> in the <Project Name> Project budget
allocated for Risk Management activities. These activities may
include, but are not limited to, identifying, analyzing, tracking,
controlling, managing, and planning for risks. This also
includes creating and updating the risk response strategies and
contingency plans.

[Above is only an example of text that could be used. Enter
whatever information is appropriate to outline/ define the
budget associated with the Risk Management activities on the
project.]
3.0 Tools And Practices
A Risk Management Log will be maintained by the project
manager and will be reviewed as a standing agenda item for
project team meetings.
Risk activities will be recorded in the <Document Name/ Risk
Database Name> located on <full network path location>.
4.0 Closing a Risk
A risk will be considered closed when it meets the following
criteria:
· <List the criteria when a risk can be closed>
· <Who has the authority to close a risk? >
Examples:
· Risk is no longer valid
· Risk Event has occurred
· Risk is no longer considered a risk
· Risk closure at the direction of the Project Manager
5.0 Lessons Learned
The lessons learned will be captured and recorded in the
<Document Name/ Risk Database Name/Lessons Learned
document or folder> located on <full network path location>.
Appendix A: Risk Management Plan Approval
The undersigned acknowledge that they have reviewed the
<Project Name> Risk Management Plan and agree with the
information presented within this document. Changes to this

Risk Management Plan will be coordinated with, and approved
by, the undersigned, or their designated representatives.
[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.]
Signature:
Date:
Print Name:
Title:
Role:
Signature:
Date:
Print Name:
Title:

Role:
Signature:
Date:
Print Name:
Title:
Role:
APPENDIX B: REFERENCES
[Insert the name, version number, description, and physical
location of any documents referenced in this document. Add
rows to the table as necessary.]
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
The following table provides definitions and explanations for
terms and acronyms relevant to the content presented within this
document.
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
Riordan Manufacturing Project Management Plan – Wk 2
Preparation
Riordan Manufacturing Project Management Plan – China Move
Week 2 Preparation
PM 571 – Project Management
November 23, 2015
Table of Contents
3A. Executive Summary
3B. Business Objectives
4C. Project Description
8D. Project Approach
8E. Communication Plan
10F. Project Charter
12G. Authorizations
13H. Scope Statement Approval Form/Signatures
Scope Statement

A. Executive Summary
This project has been initiated to move the current operations to
Hangzhou, China to Shanghai. The decision to move was based
on two justifications; (1) Riordan’s Chinese partners and their
facilities are currently located there and; (2) the Qiantang River
which facilitates their shipping needs is located within the
city’s limit which is adequate to accommodate the company’s
shipping needs.
B. Business Objectives
1. Business Need/Opportunity/Objectives
· Save time and money by eliminating the need to ship materials
180 km to ports in Shanghai, by moving the company's
operations to Shanghai.
· An increase in production volume has created the need to use
container shipping companies that use ports centrally located in
Hong Kong as well as Shanghai resulting in significant cost
savings
· Operations can implement a more substantial urban
infrastructure
· Better marketing strategy to ship our Chinese products
throughout Asia and Europe
· River access to Hangzhou Bay would provide sufficient
accommodations to handle the shipping needs
· The overall cost savings and opportunity to better position the
shipping far exceed the additional time and effort required with
the extra logistical steps
· An alternate solution would include transporting products by
trucks to the Shanghai port and then loaded into containers that
are shipped directly onto the ships to their final destination.

· Without the move, Riordan Manufacturing runs the risk of
remaining rigid in their Operations division and lose the
opportunity and ability to expand and gain a greater market
share.
2. Product Description
Reduce operational expenses by relocating the current
operational shipping facilities to Shanghai where cost savings
can be obtained by using the ports that operate directly out of
Shanghai and Hong Kong.
3. Deliverables
· Project-Related:
· Relocation research documents
· Operational procedures to enter/exit port
· Port Mappings – shore locations, layouts, schematics
· Permits / Certificate of Occupancy
· Constructed production facility
· Project Management Related:
· Case study/business case/justification
· Project Scope
· Project Charter
· Work Breakdown Structure
· Overview Strategic Plan
· Traceability Matrix
· Communications Plan
· Schedule
· Cost Analysis
· Risk Assessment
· Status Reports
· Lessons Learned
C. Project Description

1. Scope
In-Scope:
· Relocate China Operations to Shanghai
· Relocation moving costs for staff
· Construction of new production facility
· Transport of trucks, barges and containers to Shanghai port
Out of Scope:
· Housing purchase/rental for staff
· Sale of existing Operations facility
· Secure interim move facility
2. Requirements:
The requirements for making this relocation a reality include
the following:
· Comprehensive detailed move plan
· Training and instructional move documentation for staff
· Construction crew to build new production facility
· Moving company to transport company equipment (trucks and
barges) to Shanghai facility
· Onsite oversight of the move and construction of new facility
· Communication and coordination between staff and
management and port authority
· Increased shipping destinations
· Production cost savings
· Shipping time reduction

· Streamline and simplify operations
· Less rigid—more flexible operations
· Opportunity to gain greater market share with expansion
3. Acceptance Criteria
The success completion of the project will include the following
criteria:
· Operations are successfully relocated to Shanghai with
minimum collateral damage
· Successful move without an undue disruption in the operations
of the organization for a significant length of time.
· Evidence of operational efficiencies due to proximity
· Additional cost savings are realized
· New port location will accommodate increased production
volume
· Additional shipping destinations and locations are made
available
· Operational functions are streamlined and flexible
· The return on investment exceeds the budget spent to complete
project.
4. Risk Assessment
· Move will take longer than five year scheduled plan resulting
in millions of dollars in cost overruns and expenditures and
major profit loss
· Staff turnover due to new location
· Language barriers

· Business etiquette differences
5. Constraints
· Five year timeframe
· Limited budget
· Only Operations department is moving
6. Assumptions
· Lot/space availability at Shanghai port
· Government contracts have been signed
· Permits have been secured
· Ability to secure contracts with shipping companies in
Shanghai
· Increased production warrants move to Shanghai
· Budget is secured by Business/Project Sponsor
7. Critical Success Factors
· Project schedule will be accepted
· Organization management plan will be approved
· Port contracts are approved
· Lot / Land is available to build on
10. Roles and Project Stakeholders
Roles & Definitions
Project Sponsor
Responsible for financing the project and supplying executive-
level approvals. Is considered the key stakeholder as well as
reviews, approves and sign-offs on the project deliverables.
Project Owner
Responsible for initiating the projects providing funding, hires
consultants, and reaps the rewards of the deliverables. Sets the
ground rules and definitions for policies. Works with the

Project Manager to make final decisions on major project issues
surrounding policy.
Project Manager
Responsible for overseeing project management functions.
Responsible for creating all key documents including scope
statement, project charter, project schedule, risk management
plan, communications plan, monitors all task-related activities
and tracks progress. Responsible for reporting status to all
levels of the project team to ensure transparency.
Steering Committee
Provides guidance in issue management and serves as the
ultimate decision maker for items that exceed the Project
Manager’s authority level. Serves as an advocate for
stakeholders that do not sit on the committee.
Stakeholder
Anyone that has a stake in the project’s success or failure.
Provides the requirements necessary for the project’s
completion. Majority of stakeholders for this project include the
Operations team, vendors, the Shanghai port authority, project
owner, project sponsor, customers, shipping companies, etc.
Team Member
Anyone listed within the project plan either as a direct team
contributor or managerial representative of that member.
Provides analysis, designs documents that help to enhance the
existing process.
D. Project Approach
Planned Approach
The project will be completed in phases including project
initiation, project planning, project design, development,
project execution and post implementation with a number of
deliverables within. Among these categories are the structural
part, the project initiation part, project planning part and project
execution part. The activities are listed as follows:Work

Breakdown Structure
Task
1.0 Management and Support - Initiation
1.1 Provide Project Management
1.1.1 Evaluations & Recommendations
1.1.2 Project Scope
1.1.2.1 Submit Preliminary
1.1.2.2 Project Team Selection
1.1.3 Approve Scope
1.1.4 Implement Scope
1.1.5 Project Charter
1.1.5.1 Submit
1.1.5.2 Review

1.1.6 Approve Charter
1.1.7 Implement Charter
1.2 Provide quality control
1.3 Project Status Meetings
1.4 Materials and supplies
1.5 Transportation / Housing
1.6 Varied costs
1.7 Contractor Services
1.8 Risk Management
2.0 Physical Facilities - Planning
2.1 Planning
2.1.1 Define move strategy

2.1.2 Secure land / lot in Shanghai
2.1.3 Build new facility
2.1.4 Move plan
2.1.4.1 Conduct facilities inventory
2.1.4.2 Conduct applications inventory
2.1.4.3 Prepare move plan
3.0 Facilities Move
3.1 Site preparation
3.1.1 Prepare site plan
3.1.2 Prepare physical site
3.1.3 Provide Power
3.1.4 Connectivity

Obtain Certification of Occupancy
E. Communication Plan
Any staff or management issues will be communicated up the
chain of command in the same manner, from staff members to
departmental managers, to senior management. (Eric Kasten,
(2012). The following strategies have been established to
promote effective communication between all stakeholders:
· The Project Manager presents the project status to the Project
Owner on a weekly basis. In addition, impromptu meetings will
be scheduled when necessary to address issues or changes
occur. Monthly status reports will be delivered to all key
stakeholders along with meeting minutes. The project manager
provides a written status report to the Project Owner on a
monthly basis and distributes the project team meeting minutes.
· The Project Owner and Steering Committee will receive
immediate notification upon issues impacting the project with
all pertinent details to address and mitigate.
· Project team status meetings will occur on a weekly frequency
to review, update and provide progress on tasks, activities,
issues and risks that impact the project and project schedule.
· Status meeting minutes will be distributed to all key
stakeholders including the Project Sponsor, the Steering
Committee and project team members.
· A project folder will be created and located on SharePoint to
archive all project-related documentation and for auditing
purposes.
1. Stakeholder Analysis
Stakeholder(s)
Deliverable / Document Type
Frequency

Communication Method
Responsibility
Key Stakeholders
Project Kickoff Meeting
Once
Face-to-Face
WebEx
Project Manager
Project Manager
Client Sponsor
Client Owner
Project Status
Weekly
Face-to-Face
Email
WebEx
Project Team Leads, Consultant, Contractor
PMO
Dashboard Content
Weekly
Email/WebEx
Project Manager
Project Team Leads
Project Status
Weekly/As Needed
Face-to-Face
Email

WebEx
Project Manager; Project Team
Sponsors
Overview of Strategic Plan
Once
Presentation via
WebEx
Face-to-Face Presentation
Project Manager
Vendors
Detailed Project Status
Weekly
Email
Project Manager
Consultant
Assessments/Survey (Preliminary and Final) Findings
As Completed
Face-to-Face
Email
WebEx
Project Manager
Project Team
Project Status
Weekly
Face-to-Face
Email
WebEx
Project Team Leads, Project Manager

F. Project Charter
Project Title:
Move to Shanghai
Project Start Date:
11/23/2015
Project End Date:
12/30/2020
1. Project Objectives
· Save time and money by eliminating the need to ship materials
180 km to ports in Shanghai, by moving the company's
operations to Shanghai.
· An increase in production volume has created the need to use
container shipping companies that use ports centrally located in
Hong Kong as well as Shanghai resulting in significant cost
savings
· Operations can implement a more substantial urban
infrastructure
· Better marketing strategy to ship our Chinese products
throughout Asia and Europe
· River access to Hangzhou Bay would provide sufficient
accommodations to handle the shipping needs
· The overall cost savings and opportunity to better position the
shipping far exceed the additional time and effort required with
the extra logistical steps
· An alternate solution would include transporting products by
trucks to the Shanghai port and then loaded into containers that
are shipped directly onto the ships to their final destination.
· Without the move, Riordan Manufacturing runs the risk of

remaining rigid in their Operations division and loose
2. Approach
The project will be completed in phases including project
initiation, project planning, project design, development,
project execution and post implementation with a number of
deliverables within. Among these categories are the structural
part, the project initiation part, project planning part and project
execution part. The activities are listed as follows:
G. Authorizations
Approval Matrix
Scope Statement
Project Changes
Project Deliverables
Project Manager
X
Project Sponsor
X
X
Project Owner
X
X
X

Stakeholders
X
H. Scope Statement Approval Form/Signatures
Project Information:
Project Name:
Project ID:
Project Manager:
This document provides approval for project deliverables and
for the activities performed for this project. Your approval is
represented by providing your signature and serves as
acceptance of adequate performance mutually shared by all
project stakeholders including quality of deliverables, costs and
expenses of the project.
Stakeholder ________________________________________
Title _____________________
Signature __________________________________________
Date ______________________
Stakeholder ________________________________________
Title _____________________
Signature __________________________________________
Date ______________________
Stakeholder ________________________________________
Title _____________________

Signature __________________________________________
Date ______________________
Stakeholder ________________________________________
Title _____________________
Signature __________________________________________
Date ______________________
Stakeholder ________________________________________
Title _____________________
Signature __________________________________________
Date ______________________
I. References
Eric Kasten, (2012. Basics of Project Management. Amazon
Digital Services Publishing
1 | Page
<Project Name> Risk Management Plan Template
Version: <1.1> <Draft><Project Name>Risk Management Plan
Version <1.0>
<mm/dd/yyyy>VERSION HISTORY
[Provide information on how the development and distribution
of the Risk Management Plan up to the final point of approval
was 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 #
Implemented
By
Revision
Date
Approved
By
Approval
Date
Reason
1.0
<Author name>
<mm/dd/yy>
<name>
<mm/dd/yy>
Initial Risk Management Plan draft
1.1
<Author name>
<mm/dd/yy>
<name>
<mm/dd/yy>
<reason>

UP Template Version: 11/30/06
Note to the Author
[This document is a template of a Risk Management Plan
document for a project. The template includes instructions to
the author, boilerplate text, and fields that should be replaced
with the values specific to the project.
· Blue italicized text enclosed in square brackets ([text])
provides instructions to the document author, or describes the
intent, assumptions and context for content included in this
document.
· Blue italicized text enclosed in angle brackets (<text>)
indicates a field that should be replaced with information
specific to a particular project.

· Text and tables in black are provided as boilerplate examples
of wording and formats that may be used or modified as
appropriate to a specific project. These are offered only as
suggestions to assist in developing project documents; they are
not mandatory formats.
When using this template for your project document, it is
recommended that you follow these steps:
1. Replace all text enclosed in angle brackets (i.e., <Project
Name>) with the correct field values. These angle brackets
appear in both the body of the document and in headers and
footers. To customize fields in Microsoft Word (which display
a gray background when selected):
a. Select File>Properties>Summary and fill in the Title field
with the Document Name and the Subject field with the Project
Name.
b. Select File>Properties>Custom and fill in the Last Modified,
Status, and Version fields with the appropriate information for
this document.
c. After you click OK to close the dialog box, update the fields
throughout the document with these values by selecting
Edit>Select All (or Ctrl-A) and pressing F9. Or you can update
an individual field by clicking on it and pressing F9. This must
be done separately for Headers and Footers.
2. Modify boilerplate text as appropriate to the specific project.
3. To add any new sections to the document, ensure that the
appropriate header and body text styles are maintained. Styles
used for the Section Headings are Heading 1, Heading 2 and
Heading 3. Style used for boilerplate text is Body Text.

4. To update the Table of Contents, right-click and select
“Update field” and choose the option- “Update entire table”
5. Before submission of the first draft of this document, delete
this “Notes to the Author” page and all instructions to the
author, which appear throughout the document as blue italicized
text enclosed in square brackets.]
TABLE OF CONTENTS
11INTRODUCTION
11.1Purpose Of The Risk Management Plan
12risk management Procedure
12.1Process
12.2Risk Identification
12.3Risk Analysis
12.3.1Qualitative Risk Analysis
22.3.2Quantitative Risk Analysis
22.4Risk Response Planning
22.5Risk Monitoring, Controlling, And Reporting
23Tools And Practices
3risk management plan approval
4APPENDIX A: REFERENCES
5APPENDIX B: KEY TERMS
1 INTRODUCTION
1.1 Purpose Of The Risk Management Plan
[Provide the purpose of the Risk Management Plan.]
A risk is an event or condition that, if it occurs, could have a
positive or negative effect on a project’s objectives. Risk
Management is the process of identifying, assessing, responding
to, monitoring, and reporting risks. This Risk Management Plan
defines how risks associated with the <Project Name> project
will be identified, analyzed, and managed. It outlines how risk
management activities will be performed, recorded, and
monitored throughout the lifecycle of the project and provides

templates and practices for recording and prioritizing risks.
The Risk Management Plan is created by the project manager in
the Planning Phase of the CDC Unified Process and is
monitored and updated throughout the project.
The intended audience of this document is the project team,
project sponsor and management.
2 risk management Procedure2.1 Process
[Summarize the steps necessary for responding to project risk.]
The project manager working with the project team and project
sponsors will ensure that risks are actively identified, analyzed,
and managed throughout the life of the project. Risks will be
identified as early as possible in the project so as to minimize
their impact. The steps for accomplishing this are outlined in
the following sections. The <project manager or other
designee> will serve as the Risk Manager for this project.2.2
Risk Identification
Risk identification will involve the project team, appropriate
stakeholders, and will include an evaluation of environmental
factors, organizational culture and the project management plan
including the project scope. Careful attention will be given to
the project deliverables, assumptions, constraints, WBS,
cost/effort estimates, resource plan, and other key project
documents.
A Risk Management Log will be generated and updated as
needed and will be stored electronically in the project library
located at <file location>.2.3 Risk Analysis
All risks identified will be assessed to identify the range of
possible project outcomes. Qualification will be used to
determine which risks are the top risks to pursue and respond to
and which risks can be ignored.
2.3.1 Qualitative Risk Analysis

The probability and impact of occurrence for each identified
risk will be assessed by the project manager, with input from
the project team using the following approach:
Probability
· High – Greater than <70%> probability of occurrence
· Medium – Between <30%> and <70%> probability of
occurrence
· Low – Below <30%> probability of occurrence
Impact
Impact
H
M
L
L
M
H
Probability
· High – Risk that has the potential to greatly impact project

· Medium – Risk that has the potential to slightly impact project
· Low – Risk that has relatively little impact on cost, schedule
or performance
Risks that fall within the RED and YELLOW zones will have
risk response planning which may include both a risk mitigation
and a risk contingency plan.
2.3.2 Quantitative Risk Analysis
Analysis of risk events that have been prioritized using the
qualitative risk analysis process and their affect on project
activities will be estimated, a numerical rating applied to each
risk based on this analysis, and then documented in this section
of the risk management plan.2.4 Risk Response Planning
Each major risk (those falling in the Red & Yellow zones) will
be assigned to a project team member for monitoring purposes
to ensure that the risk will not “fall through the cracks”.
For each major risk, one of the following approaches will be
selected to address it:
· Avoid – eliminate the threat by eliminating the cause
· Mitigate – Identify ways to reduce the probability or the
impact of the risk
· Accept – Nothing will be done
· Transfer – Make another party responsible for the risk (buy
insurance, outsourcing, etc.)
For each risk that will be mitigated, the project team will

identify ways to prevent the risk from occurring or reduce its
impact or probability of occurring. This may include
prototyping, adding tasks to the project schedule, adding
resources, etc.
For each major risk that is to be mitigated or that is accepted, a
course of action will be outlined for the event that the risk does
materialize in order to minimize its impact.2.5 Risk Monitoring,
Controlling, And Reporting
The level of risk on a project will be tracked, monitored and
reported throughout the project lifecycle.
A “Top 10 Risk List” will be maintained by the project team
and will be reported as a component of the project status
reporting process for this project.
All project change requests will be analyzed for their possible
impact to the project risks.
Management will be notified of important changes to risk status
as a component to the Executive Project Status Report. 3 Tools
And Practices
A Risk Log will be maintained by the project manager and will
be reviewed as a standing agenda item for project team
meetings.
risk management plan approval
The undersigned acknowledge they have reviewed the Risk
Management Plan for the <Project Name> project. Changes to
this Risk Management Plan will be coordinated with and
approved by the undersigned or their designated representatives.
[List the individuals whose signatures are desired. Examples of
such individuals are Business Steward, Project Manager or
Project Sponsor. Add additional lines for signature as
necessary. Although signatures are desired, they are not always
required to move forward with the practices outlined within this

document.]
Signature:
Date:
Print Name:
Title:
Role:
Signature:
Date:
Print Name:
Title:
Role:
Signature:

Date:
Print Name:
Title:
Role:
Signature:
Date:
Print Name:
Title:
Role:
APPENDIX A: REFERENCES
[Insert the name, version number, description, and physical
location of any documents referenced in this document. Add
rows to the table as necessary.]

The following table summarizes the documents referenced in
this document.
Document Name and Version
Description
Location
<Document Name and Version Number>
[Provide description of the document]
<URL or Network path where document is located>
APPENDIX B: KEY TERMS
[Insert terms and definitions used in this document. Add rows
to the table as necessary. Follow the link below to for
definitions of project management terms and acronyms used in
this and other documents.
http://www2.cdc.gov/cdcup/library/other/help.htm
The following table provides definitions for terms relevant to
the Risk Management Plan.
Term
Definition
[Insert Term]
[Provide definition of the term used in this document.]
[Insert Term]
[Insert Term]

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