So you have been asked to put together a project risk management plan. No idea where to start. Here is a brief guide to putting together a risk management plan. Project Risk Management A risk is something that may happen and if it does, will have an adverse impact on the project. A few points here. "that may happen" implies a probability of less then 100%. If it has a probability of 100% - in other words it will happen - it is an issue. An issue is managed differently to a risk and we will handle issue management in a later white paper. A risk must also have a probability something above 0%. It must be a chance to happen or it is not a risk. The second thing to consider from the definition is "will have an adverse impact". If it will not have an adverse impact, it is not a risk. Suppose we said a risk was that we would find the project less complicated than we thought, and could finish early. Unless finishing early has an adverse effect on the project, it is not a risk. Risk Management Plan There are four stages to risk management. They are: � Risk Identification � Ri......

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