Artifact: Risk Management Plan

Risk Management Plan	The Risk Management Plan details how to manage the risks associated with a project. It details the risk management tasks that will be carried out, assigned responsibilities, and any additional resources required for the risk management activity. On a smaller scale project, this plan may be embedded within the Software Development Plan.
Role:	Project Manager
Templates:	HTML Others
Purpose Enclosed Artifacts Timing Responsibility Tailoring

Input to Activities:

Compile Software Development Plan

Define Monitoring & Control Processes

Monitor Project Status

Develop Quality Assurance Plan

Identify and Assess Risks

Output from Activities:

Develop Risk Management Plan

Identify and Assess Risks

Purpose

The purpose of the Risk Management Plan is to ensure that project risks are properly identified, analyzed, documented, mitigated, monitored, and controlled. It describes the approach that will be used to identify, analyze, prioritize, monitor, and mitigate risks.

Enclosed Artifacts

Timing

This artifact is developed during the Inception phase. Scheduled updates occur based on the results of each Iteration Acceptance Review and Lifecycle Milestone Review. Updates should also occur when changes to risks or mitigation strategies are identified through risk monitoring and control activities.

Responsibility

The Project Manager is responsible for maintaining the Risk Management Plan and keeping the project's Risk List updated.

Tailoring

The Risk List may be sufficient by itself for smaller projects: for large or otherwise high-risk projects where significant resources will be dedicated to risk aversion, a separate Risk Plan may be needed.