Equipment breakdowns, process delays, or compliance gaps—operational risks come in many forms. This template gives you a clear, systematic way to identify and manage risks across your workflows. Whether you’re standardizing risk reviews across teams or preparing for audits, you can use this template to document threats, assign responsibilities, and assess mitigation efforts.
Build an effective risk process and stay ahead
The operational risk management plan template is divided into four practical sections: risk identification, risk assessment, mitigation, and monitoring. Each step guides you through a structured process to document risks, evaluate their potential impact, and take action before small issues escalate.
You can delegate tasks, monitor progress, and make risk reporting more consistent across teams with the template. This helps you avoid miscommunication and makes follow-up tasks easier to manage.
By organizing risk data in one place, the template supports faster decision-making and gives you a clear overview of your operational risk landscape. Make the most of the template by integrating it into regular reviews and audits—it simplifies reporting and strengthens internal controls.
How to use the operational risk management plan template
This template gives you a repeatable process to follow. Here’s how to put it into action and get your team aligned.
- Customize the template to your workflow. Open the template in the Lumiform app and adjust it to fit your operation. Tailor the risk categories, likelihood scales, and mitigation fields based on the specifics of your industry and processes.
- Document risks during audits or inspections. Use the mobile app to conduct assessments in the field—on-site at a warehouse, plant, or office. Capture key details like the source of each risk, its potential consequences, and photos if needed.
- Assign follow-up tasks and mitigation actions. Once you’ve logged risks, assign actions directly from the form. Add deadlines, instructions, and responsible team members so tasks don’t get missed.
- Track status and monitor implementation. Use Lumiform’s dashboard to track which risks are resolved, which need attention, and where delays are happening. This helps you stay ahead of recurring issues.
- Use analytics to improve your risk strategy. Review your data to spot trends, recurring threats, and weak points in your current controls. This insight allows you to refine your risk management strategy over time.
Download Lumiform’s operational risk management plan template today
Implement an efficient, streamlined approach to managing operational risks across your organization. This template supports you in clarifying roles, documenting threats, and assigning follow-ups, without having to start from scratch. Put it to work today and bring greater control and accountability to your risk management process!