Risk Management Planning
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Produces the Risk Management Plan (RMP): a document spelling out methodology, roles, budget, schedule, risk categories, probability/impact rules, tracking process, documentation, and contingency / fall-back plans.
RMP detail scales with project size — small project, light plan.
Sections: methodology, roles, budget, categories, probability/impact, tracking, documentation, contingency, fall-back.
Reviewed and updated through the project lifecycle.
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
Methodology
Roles and responsibilities
Budget and Schedule
Risk Categories
Risk probability and impact
Tracking
Risk Documentation
Contingency plans
Fall-back plans
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