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Risk management plan template

Risk management plan template

Use this risk management plan template to identify the risks and register the risks’ impact on a project.

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Risk management plan template

Use this risk management plan template to identify the risks and register the risks’ impact on a project.

Use this template with Lumiform

  • Customize this template or build your own
  • Fill out templates via mobile app
  • Get reports and analyse your data
Prices start from ░░░ per month
Book a demo
Learn more
or Download template as PDF

A risk management plan template helps you systematically identify, assess, and mitigate potential threats to your business or project. Unlike generic risk assessments, this template provides a comprehensive framework with dedicated sections for risk identification, analysis, response strategies, and monitoring protocols. When facing complex projects with multiple stakeholders, this template ensures nothing falls through the cracks.

According to the Allianz Risk Barometer 2024 report indicates a 50% increase in cyber-related insurance claims activity since 2022, making structured risk management more critical than ever. We designed this template to help you transform uncertainty into manageable action items, keeping your projects and operations resilient against evolving threats.

Related categories

Created by

Author Name Inioluwa Ademuwagun
Preview of the template
Audit
Reference
You can use this as your reference guide:
Risk Management Plan
Add the risks below:
Risk
Define the risk:
Describe the risk:
Evaluation of possibility:
Influence on the project (This can be helpful in identifying proper reduction actions)
Rate the seriousness
Grade (take not of the reference above)
Change in grade since last examination
Date of last review
Moderation actions (preventative or contingency): define intended mitigation strategies
Timeline for moderation action(s)
Responsible person/group for mitigation action(s):
Has the moderation action been included in the Work Breakdown Structure (WBS) or work method?
Relevant photos:
Total costs
Completion
Full name and signature of the project manager:
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Frequently asked questions

What should I include in the risk identification section of my risk management plan?

Focus on listing both internal and external risks specific to your project or business area. Include operational risks (equipment failures, supply chain issues), financial risks (budget overruns, market fluctuations), and strategic risks (competitor actions, regulatory changes). Consider conducting brainstorming sessions with key stakeholders to capture risks from multiple perspectives.

How do I prioritize risks in my risk management plan?

Prioritize risks by evaluating both their likelihood of occurrence and potential impact. Create a simple matrix scoring each risk on these two factors (typically 1-5 scales). Focus your immediate attention on high-impact, high-likelihood risks, while monitoring lower-priority items. Remember that risk priorities aren’t static—review them regularly as your project or business environment changes.

Who should be involved in creating a risk management plan?

Include representatives from all departments affected by the risks being assessed. Key participants should include project managers, subject matter experts, finance representatives, and operational staff. For comprehensive coverage, also consider involving external stakeholders like key suppliers or regulatory compliance experts when developing specific risk response strategies.

Author
Inioluwa Ademuwagun
Inioluwa is a freelance content writer with a passion for words and everything marketing. She has worked closely with B2B SaaS and e-commerce brands creating product-led content. She loves to read fiction and would describe herself as an introverted nerd who desires to travel around the world. She currently doing that with her words till she can with her eyes
This template, developed by Lumiform employees, serves as a starting point for businesses using the Lumiform platform and is intended as a hypothetical example only. It does not replace professional advice. Companies should consult qualified professionals to assess the suitability and legality of using this template in their specific workplace or jurisdiction. Lumiform is not liable for any errors or omissions in this template or for any actions taken based on its content.