Risk Management Plan

Purpose

The Risk Management Plan defines how risks will be identified, recorded, monitored, measured and reported throughout the Project.

The Risk Management Plan is to ensure that the Project conforms and provide assurance that the Project conforms to the Project Process Requirements in particular the Risk Management process.

The Risk Management Plan will be used to measure the implementation and performance of the risk management process on the Project.

Derivation and Source Requirements

The Risk Management Plan will be derived from the Risk Log and the Risk Management Process

Composition

As a minimum the Risk Management Plan will define:

·       The process including risk identification, assessment, management and reporting.

·       Risk classification and criteria,

·       The management of costs,

·       How Risks are transferred and managed by the Schedule,

·       Metrics, and

·       Pre-requisites and dependencies.

Quality Criteria

Does the Risk Management Plan align with and support the Work Packages, Phase Plan and Project Management Plan?

Does the Risk Management Plan provide assurance that the Project will comply with the Risk Management Processes?

Are all the criteria and classifications clearly defined?

Quality Method and Skills

The Risk Management Plan will be developed by the Project Management Team and reviewed by the Team Leaders.