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Sk90 replied to the topic What is Risk Management Plan? in the forum Introduction to Project Management 6 years, 2 months ago
The risk management plan is a document prepared by project manager to foresee risks and methods to either minimize or eliminate their negative impact on project . An ideal risk management plan can solve any unexpected problem coming while executing the project because all the scenarios that can go wrong has been taken into consideration while planning . and it also decrease the level of problem affecting the project. The risk management plan should include budget, work breakdown structure, roles and responsibilities , risk register ,reporting structure,risk categories and process that will be adopted. The Risk management plan is referred to frequently throughout the project, to ensure that all risks are mitigated as quickly as possible. For a project to be successful ensure that risk management plan is maintained.