• Our Policy
  • Our Services
  • Contact Us
Value Governance Research
Login / Register
0 Wishlist
0 items / $0.00
Menu
Value Governance Research
0 items / $0.00
Browse Categories
  • Business Agreements
  • Legal
  • Information Technology
  • Business Plan & Management
  • Human Resource Management
  • Financial Management
  • Sales & Marketing
  • Media & Broadcast
  • Operations & Logistics
  • Private Life
  • Real Estate
  • Home
  • Toolkits
    • Excell Sheets
    • Word Documents
  • Free Tools
  • Learn
Join Us
Home » Tools » Project Risk Management Plan Template
Click to enlarge

Project Risk Management Plan Template

Managing risks on projects is a process that includes risk assessment and a mitigation strategy for those risks. Risk assessment includes both the identification of potential risk and the evaluation of the potential impact of the risk. A risk mitigation plan is designed to eliminate or minimize the impact of the risk events—occurrences that have a negative impact on the project. Identifying risk is both a creative and disciplined process. The creative process includes brainstorming sessions where the team is asked to create a list of everything that could go wrong. All ideas are welcome at this stage with the evaluation of the ideas coming later.

* If you are a member, you will see the "Downloads" tab and you can download the files. If you are not a member or you are outside your download limit, you can purchase the files individually. If you don't see the "Add to Cart" button, the documents aren't sold individually.  

Add to wishlist
  • Description
Description

Risk Evaluation

After the potential risks have been identified, the project team then evaluates each risk based on the probability that a risk event will occur and the potential loss associated with it. Not all risks are equal. Some risk events are more likely to happen than others, and the cost of risk can vary greatly. Evaluating the risk for the probability of occurrence and the severity of the potential loss to the project is the next step in the risk management process.

Having criteria to determine high-impact risks can help narrow the focus on a few critical risks that require mitigation. For example, suppose high-impact risks are those that could increase the project costs by 5% of the conceptual budget or 2% of the detailed budget. Only a few potential risk events meet these criteria. These are the critical few potential risk events that the project management team should focus on when developing a project risk mitigation or management plan. Risk evaluation is about developing an understanding of which potential risks have the greatest possibility of occurring and can have the greatest negative impact on the project (Figure 16.3). These become the critical few.

Category: Free Tools Tags: Project Management, Risk Management
Share
Twitter Email Pinterest linkedin WhatsApp WhatsApp Telegram

Related products

Read more
Quick view
Add to wishlist
Close

Project Planning Risk Evaluation Checklist

Read more
Quick view
Add to wishlist
Close

Project Lessons-Learned Document Template

Read more
Quick view
Add to wishlist
Close

Project Commitments – Agreement Form

Add to cart
Quick view
Add to wishlist
Close

Project Resource Plan Template

$2.00
Read more
Quick view
Add to wishlist
Close

Cumulative Cost Curve Template

Read more
Quick view
Add to wishlist
Close

Project Issue Document Template

Recent Posts
  • Your Technology
    The Road to IRM: Can Your Technology Get You There?
  • How to Become an Executive Recruiter
    How to Become an Executive Recruiter
  • 1secure-covid
    7 Best Practices For Securing Remote Access for Employees
  • Beginner’s Guide To Project Portfolio Management—Critical Steps, Tools, Benefits
    Beginner’s Guide To Project Portfolio Management—Critical Steps, Tools, Benefits
Useful Links
  • Our Policy
  • Our Services
  • Membership Plans
  • Contact Us
Todays Visitors
  • 27,929 Visitors
Value Governance Research Ltd.
”” ””
  • Menu
  • Categories
  • Business Agreements
  • Legal
  • Information Technology
  • Business Plan & Management
  • Human Resource Management
  • Financial Management
  • Sales & Marketing
  • Media & Broadcast
  • Operations & Logistics
  • Private Life
  • Real Estate
  • Home
  • Toolkits
    • Excell Sheets
    • Word Documents
  • Free Tools
  • Learn
  • Wishlist
  • Login / Register

Shopping cart

close

Sign in

close

Lost your password?
Or login with
Google
No account yet? Create an Account
Scroll To Top