Sample Risk Management Plan
Enterprise Project Management Office State of North Dakota
Sample Risk Management Plan
Page 9 of 12
What Owner Time Estimate
Threshold 1: Anything with a probability of
“very likely” (5) will be considered a fact and
managed in the project plan.
Threshold 2: Any thing with a risk score of 20
or below will be included on the non-critical
risk list.
PM 1 hour
All risks not excluded by the above thresholds
will be passed to Quantitative Analysis.
PM 1 hour
Stage Gate: Meet with the Executive Steering
Committee to review the key risks and get a
go/no-go decision to proceed with planning.
PM 1 hour
2 hours prep
4.4. Quantitative Analysis
What Owner Time Estimate
A moderate risk effort indicates that an Expected Monetary Value (EMV) Analysis will be
performed for each of the risked passed onto this phase.
Analyze: The project team and SMEs from
the effected divisions will meet to perform a
basic EMV for each risk. A decision tree will
be developed for a risk as needed.
Project Team
SMEs
4 hours
4.5. Risk Response Planning
What Owner Time Estimate
The top risks evaluated in the Quantitative
Analysis will be assigned out to the core
project team, SMEs, and management if
necessary. Each risk owner will be assigned
to develop strategies avoid, if possible, or
mitigate/transfer the risk. These responses
should be documented in the risk register.
Risk owners are given 1 week to complete.
Team
SMEs
Management (if
needed)
4 hours
5 day lag
Stage Gate: Meet with the Executive Steering
Committee to review the key risks and get a
go/no-go decision to proceed with planning.
PM 1 hour
2 hours prep
Page 9/12
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