0It describes how risk management activities will be structured and performed
Risk Management Plan includes the following :
- Risk Strategy. Approach to manage risk in Project
- Methodology. Data sources and tools that would be utilized for risk management
- Roles and responsibilities. Mapping of risk management activity to team member
- Funding. How contingency and management reserves would be used
- Timing. Defines timing of various risk management activities
- Risk Appetite. Qualitative assessment of risk withstanding ability of stakeholder
- Risk Tolerance / Risk Threshold. Quantitative assessment of risk withstanding ability
- Reporting Format. What would be the format of Risk Register, Risk Report ?
- Tracking. How risk management activities would be audited ?
