Plan Risk Management

Defines how to conduct risk management activities for the project, producing the risk management plan. It makes the degree of risk effort proportionate to the project's risk and importance.

Process Group Planning Knowledge Area Project Risk Management

Plan Risk Management sets out how risk will be handled: methodology, roles, the budget and timing for risk activities, risk categories, and definitions of probability and impact. The output is the risk management plan — the rulebook the rest of the risk processes follow.

Plan Risk Management: key inputs and outputs — The key inputs feeding Plan Risk Management and the deliverables it produces — full ITTOs are listed below.

It calibrates effort to the project: a high-stakes, uncertain project warrants more rigorous risk management than a small, routine one. The stakeholder risk appetite and thresholds defined here shape every later risk decision.

Common pitfalls. A generic plan disconnected from the project’s actual risk; effort disproportionate to the stakes, whether too much or too little; and undefined probability and impact scales, which make later risk analysis inconsistent.

Inputs, Tools & Techniques, and Outputs

Inputs

Project charter
Project management plan
Project documents
Enterprise environmental factors
Organizational process assets

Tools & Techniques

Expert judgment
Data analysis
Meetings

Outputs

Risk management plan