Risk Management PlanforTable of Contents Table of ContentsiiRevision HistoryiiPurpose1Roles and Responsibilities1Risk Documentation1Activities2Schedule for Risk Management Activities3Risk Management Budget4Risk Management Tools4Appendix. Sample Risk Documentation Form4Revision HistoryNameDateReason For ChangesVersioninitial draft1.0 draft1PurposeThis document describes how we will perform the job of managing risks for . It defines roles and responsibilities for participants in the risk processes, the risk management activities that will be carried out, the schedule and budget for risk management activities, and any tools and techniques that will be used. Roles and ResponsibilitiesProject ManagerThe Project Manager will assign a Risk Officer to the project, and identify this individual on the projects organization chart. The Project Manager and other members of the Project Management team shall meet to review the status of all risk mitigation efforts, review the exposure assessments for any new risk items, and redefine the projects Top Ten Risk List.Risk OfficerThe Risk Officer has the following responsibilities and authority:Project Member Assigned a RiskThe Risk Officer will assign each newly identified risk to a project member, who will assess the exposure and probability for the risk factor and report the results of that analysis back to the Risk Officer. Assigned project members are also responsible for performing the steps of the mitigation plan and reporting progress to the Risk Officer biweekly.Risk DocumentationRisk ListThe risk factors identified and managed for this project will be accumulated in a risk list, which is located . The ten risk items that currently have the highest estimated risk exposure are referred to as the projects Top Ten Risk List.Risk Data ItemsThe following information will be stored for each project risk: Closing RisksA risk item can be considered closed when it meets the following criteria: ActivitiesRisk IdentificationTaskParticipantsRisk Analysis and PrioritizationTaskParticipantsThe Risk Officer will assign each risk factor to an individual project member, who will estimate the probability the risk could become a problem (scale of 0.1-1.0) and the impact if it does (either relative scale of 1-10, or units of dollars or schedule days, as indicated by the Risk Officer).Assigned Project MemberThe individual analyzed risk factors are collected, reviewed, and adjusted if necessary. The list of risk factors is sorted by descending risk exposure (probability times impact).Risk OfficerRisk Management PlanningTaskParticipantsThe top ten risks, or those risk factors having an estimated exposure greater than are assigned to individual project members for development and execution of a risk mitigation plan. Risk OfficerFor each ass