IT RISK MANAGEMENT
PLAN TEMPLATE
IT RISK MANAGEMENT PLAN
PROJECT NAME
ADDRESS
WEB ADDRESS
VERSION 0.0.0
MM/DD/YY
PREPARED BY DATE
REVIEWED BY DATE
APPROVED BY DATE
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TABLE OF CONTENTS
PROJECT OWNERSHIP .......................................................................................................................... 3
PLAN VERSION ..................................................................................................................................... 3
RISK MANAGEMENT PROCESS ............................................................................................................... 4
RESOURCE REQUIREMENTS .................................................................................................................. 4
TOOLS...................................................................................................................................................................4
DATA ....................................................................................................................................................................4
TEAM ....................................................................................................................................................................4
ROLES & RESPONSIBILITIES ................................................................................................................... 5
FINANCIAL IMPACT ............................................................................................................................. 6
ESTIMATED FUNDS REQUIRED & BUDGETARY IMPACT .....................................................................................6
TIMELINE IMPACT ................................................................................................................................. 6
RISK MONITORING............................................................................................................................... 7
REVIEWS OF RISKS & ISSUES – Check for issues that may have escalated....................................................7
MONITORING ......................................................................................................................................................7
REPORTING ..........................................................................................................................................................7
RISK CATEGORIES ................................................................................................................................ 8
RISK ASSESSMENT MATRIX ................................................................................................................... 9
MITIGATION GRADING MATRIX........................................................................................................ 10
STAKEHOLDER TOLERANCES.............................................................................................................. 11
ATTACHMENTS ................................................................................................................................... 11
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PROJECT OWNERSHIP
PROJECT NAME
PROJECT
OVERVIEW
PROJECT MANAGER NAME
PHONE
EMAIL
CONTACT INFO
MAILING
ADDRESS
PLAN VERSION
VERSION DATE AUTHOR
REASON
SECTIONS IMPACTED
SECTION TITLE AMENDMENT
DISTRIBUTION
DELIVERY METHOD ISSUE DATE ISSUED TO
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RISK MANAGEMENT PROCESS
Define process / approach.
RESOURCE REQUIREMENTS
TOOLS
DATA
TEAM
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ROLES & RESPONSIBILITIES
For each risk management plan activity, name parties responsible and define responsibilities.
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FINANCIAL IMPACT
ESTIMATED FUNDS REQUIRED & BUDGETARY IMPACT
ESTIMATE ADDITIONAL COMMENTS
INITIAL FEES $
RECURRING FEES $
ASSUMPTIONS $
PRICING
METHODOLOGY
BUDGET IMPACT
TIMELINE IMPACT
Describe any impact to plan schedule. List any start / end dates affected.
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RISK MONITORING
REVIEWS OF RISKS & ISSUES – Check for issues that may have escalated.
REVIEW FREQUENCY
PARTIES RESPONSIBLE FOR REVIEWING
MONITORING
REVIEW FREQUENCY
PARTIES RESPONSIBLE FOR REVIEWING
REPORTING
REVIEW FREQUENCY
PARTIES RESPONSIBLE FOR REVIEWING
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RISK CATEGORIES
Define grouping methodology / organization process of potential causes.
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RISK ASSESSMENT MATRIX
LOW MEDIUM HIGH EXTREME
RISK 0 1 2 3
RATING ACCEPTABLE ALARP as low as GENERALLY INTOLERABLE
reasonably practicable UNACCEPTABLE
KEY
TAKE MITIGATION PLACE EVENT
OK TO PROCEED EFFORTS SEEK SUPPORT ON HOLD
SEVERITY
ACCEPTABLE TOLERABLE UNDESIRABLE INTOLERABLE
LITTLE TO NO EFFECT EFFECTS ARE FELT, BUT SERIOUS IMPACT TO COULD RESULT IN
ON EVENT NOT CRITICAL TO COURSE OF ACTION DISASTER
OUTCOME AND OUTCOME
IMPROBABLE LOW MEDIUM MEDIUM HIGH
RISK IS –1– –4– –6– – 10 –
UNLIKELY TO
LIKELIHOOD
OCCUR
POSSIBLE LOW MEDIUM HIGH EXTREME
RISK WILL LIKELY –2– –5– –8– – 11 –
OCCUR
PROBABLE MEDIUM HIGH HIGH EXTREME
RISK WILL –3– –7– –9– – 12 –
OCCUR
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MITIGATION GRADING MATRIX
RISK MATRIX
SECTIONS IMPACTED
LOW MEDIUM HIGH EXTREME
LOW N D C A
LIKELIHOOD
MEDIUM D C B A
HIGH C B A A
RISK MITIGATION BASED UPON GRADE
GRADE POSSIBLE ACTION
As a priority, mitigation actions reducing both likelihood and seriousness are to be identified and
A implemented at start of project.
Mitigation actions reducing both likelihood and seriousness are to be identified and implemented
B throughout course of project.
Mitigation actions reducing both likelihood and seriousness are to be identified and costed for
C possible action should funds permit execution.
D Risk to be noted: No action is required unless grading increases over time.
N Risk to be noted: No action is required unless grading increases over time.
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STAKEHOLDER TOLERANCES
Define time and limitations of cost contingency reserves.
ATTACHMENTS
FILE / DOCUMENT NAME FORMAT DESCRIPTION
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