Introduction

[Provide the overall intent of the development of the Risk Management Plan]

Project Description

[Provide an overview of the project including organization, problem(s), objectives and resolution(s)]

Guiding Risk Management Principles

[Provide specific risk-related standards the plan will follow including people, technology and process related]

Risk Management Process

Risk Identification

[Based on an analysis of the project known and unknown risks, identify specific risks that may impact project outcome (costs, time, quality, performance) and document their characteristics]

Risk Planning & Analysis

Risk Matrix Legend:

[You must define a risk matrix legend to quantify the probability and impact levels (i.e. H, M, L)

Risk Matrix Legend Example:

Probability Level	Criteria	Impact Level	Criteria
Very High (VH)	· 90%	Very High (VH)	Catastrophic
High (H)	< 89% x > 80%	High (H)	Critical
Medium (M)	< 79% x > 70%	Medium (M)	Marginal
Low (L)	< 69%	Low (L)	No Impact

Project Risk Matrix Legend:

Probability Level	Criteria	Impact Level	Criteria

Risk Matrix:

[The risk matrix is a graphical representation of the identified risks and their evaluation in terms of probability (likelihood) of occurrence and impact on project success factors (costs, time, quality) if they should occur.]

The definitions of risk probability and impact levels are specific to the selected project and reflect risk appetite and thresholds.

Risk #: Numerical number of risk
Risk: Provide a description of the risk (i.e. Weather impacts – storm season)
Probability: defines the likelihood that risk will occur (i.e. H, M, L)
Impact: Defines the level of impact to project success factors (time, costs, quality) (i.e. H, M, L)
Response to Risk: Avoid, Mitigate, Transfer and Accept
Action Plan: a detailed explanation of the steps for risk mitigation(s)
Person Responsible: Who will manage the mitigation strategy
Status: Status of mitigation process