ISO 31000 RISK MANAGEMENT PLAN

Use this risk management plan template to identify risks and their impact on any given project, as per the ISO 31000 risk management standard. This template helps you assess the likelihood of risk; it also helps you assess the gravity of any risks that you identify. In addition, the template helps you define effective mitigation strategies and assign risk management tasks to various personnel. At the end of this document, you will find space for the full name and signature of the risk management plan’s project manager.

Risk Management Plan

IDENTIFY RISK

DESCRIPTION OF RISK

IMPACT ON PROJECT (IDENTIFICATION OF CONSEQUENCES)

Determine impact to identify appropriate mitigation actions

Assessment of Likelihood	Assessment of Seriousness

LOW	LOW
MEDIUM	MEDIUM
X	HIGH	HIGH
NOT ASSESSED	X	EXTREME
NOT ASSESSED

grade	Change in Grade since last review

X	D	NEW RISK
C	NO CHANGE
B	DECREASED
A	X	INCREASED

DATE OF LAST REVIEW

MITIGATION ACTIONS (PREVENTIVE OR CONTINGENCY)

Specify planned mitigation strategies

INDIVIDUAL / GROUP RESPONSIBLE FOR MITIGATION ACTION(S)

COST

TIMELINE FOR MITIGATION ACTION(S)

Enter proposed timeline

Is the mitigation action included in the Work Breakdown Structure (WBS) or work plan?	YES	NO	N/A

PROJECT MANAGER’S FULL NAME	SIGNATURE	DATE

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