Risk & Safety Management

Risk Mitigation Plan (RMP)

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The Risk Mitigation Plan should be realistic, achievable, measurable, and documented and address the following topics: [1]

  • A descriptive title for the identified risk;
  • The date of the plan;
  • The point of contact responsible for controlling the identified root cause;
  • A short description of the risk (including a summary of the performance, schedule, and resource impacts, likelihood of occurrence, consequence, whether the risk is within the control of the program);
  • Why the risk exists (root causes leading to the risk);
  • The options for mitigation (possible alternatives to alleviate the risk);
  • Definition of events and activities intended to reduce the risk, success criteria for each plan event, and subsequent “risk level if successful” values;
  • Risk status (discuss briefly);
  • The fallback approach (describe the approach and expected decision date for considering implementation);
  • A management recommendation (whether budget or time is to be allocated, and whether or not the risk mitigation is incorporated in the estimate at completion or in other program plans);
  • Appropriate approval levels (Risk Integrated Product Team (IPT) leader, higher-level Product Manager, Systems Engineer, Program Manager);
  • Identified resource needs.

– See Risk Mitigation Plan Implementation

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