Project Name Risk Management Plan Template Version 11 Draft

project name risk management plan template version: 1.1 draft project name risk management plan version 1.0 mm

Risk Management Plan Template Version: <1.1>

Risk Management Plan
Version <1.0>

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




Initial Risk Management Plan draft
1.1





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 () 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., )
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.
1.
Modify boilerplate text as appropriate to the specific project.
2.
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.
3.
To update the Table of Contents, right-click and select “Update
field” and choose the option- “Update entire table”
4.
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
1 INTRODUCTION 1
1.1 Purpose Of The Risk Management Plan 1
2 risk management Procedure 1
2.1 Process 1
2.2 Risk Identification 1
2.3 Risk Analysis 1
2.3.1 Qualitative Risk Analysis 1
2.3.2 Quantitative Risk Analysis 2
2.4 Risk Response Planning 2
2.5 Risk Monitoring, Controlling, And Reporting 2
3 Tools And Practices 2
APPENDIX A: REFERENCES 4
APPENDIX B: KEY TERMS 5
1INTRODUCTION
=============
1.1Purpose 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 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.
2risk management Procedure
==========================
2.1Process
----------
[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
will serve as the Risk Manager for
this project.
2.2Risk 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 location>.
2.3Risk 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.
2.3.1Qualitative 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
cost, project schedule or performance
*
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.
2.3.2Quantitative 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.
2.4Risk 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.
2.5Risk 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.
3Tools 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. 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

[Provide description of the document]

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]
[Provide definition of the term used in this document.]
[Insert Term]
[Provide definition of the term used in this document.]
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