# Risk Management Planning

* The output of risk management planning is a Risk Management Plan (RMP) that documents the procedures for managing risks throughout a project.
* The project team should review the RMP and understand and implement the organisation's and sponsor's approaches to risk management.
* The level of detail will vary with the needs of the project

## The Risk Management Plan

* Methodology
* Roles and responsibilities
* Budget and Schedule
* Risk Categories
* Risk probability and impact
* Tracking
* Risk Documentation
* Contingency plans
* Fall-back plans