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Risk Management Plan Templates

Mitigate risks and enact safety measures with risk management plan templates from iAuditor.

Published 21 Sep 2021

What Is Risk Management?

Risk management is a project management tool that helps ensure workplace safety. Beyond accident prevention, risk management can make your team more efficient and better prepared to take on potential risks or hazards and improve the overall safety of your site.

In this article we will briefly discuss the following: 

4 Steps of the Risk Management Process

  1. Risk Recognition: Identify all potential risks affecting the project.
  2. Risk Assessment: Prioritize identified risks based on severity/damage impact.
  3. Risk Mitigation: Reduce the risk occurrence by implementing safety measures or removing/modifying certain aspects.
  4. Risk Monitoring: Evaluate the effectiveness of safety measures.

How To Write A Risk Management Plan

The following should be included in a risk management plan:

  • All the identified risks that can potentially impact a project.
  • A scale that estimates the probability of a risk occurring and severity of impact.
  • The consequences on the project should any of the risks take place.
  • Mitigation actions to either prevent the occurrence of identified risks or serve as damage control should they happen.

Risk Management Plan For Construction

Construction companies are faced with huge risks. Aside from ensuring worker safety, construction companies have to plan for project delays, issues with clients, and miscommunication among team members.

While a lot of things can go wrong during construction, it is the project manager’s responsibility to resolve issues before they harm the project. To ease the construction process, the project manager needs a risk management plan.

Here’s an example of a risk management plan for construction:

  1. Assess management of resources.
  2. Identify project requirements.
  3. Discuss project phases with team.
  4. Assign tasks and set deadlines.
  5. Prepare for possible setbacks.
  6. Establish risk protocols.
  7. Inspect site for safety hazards.

What Is A Risk Management Plan Template?

A risk management plan template is used in establishing a framework that will assess risks associated with a project. Project managers can create multiple risk management plans from one template. Here is a sample template report of a Risk Management Plan PDF created in the context of warehouse safety.

Why Should A Project Manager Use A Risk Management Plan Template?

A project manager should use a risk management plan template because it can be confusing to keep track of several risk management plans for different projects. Even if a project manager has only one ongoing project, writing a risk management plan from scratch can seem daunting.

By using a risk management plan template, project managers can implement safety guidelines across a wide range of projects. Starting with a risk management plan template gives the project manager an idea of what to look out for.

Mitigate Risks With iAuditor’s Risk Management Plan Templates

Paper-based risk management plans cost you time and money. Save both by using a digital risk management plan. With iAuditor by SafetyCulture, you can access and store your risk management plan on your mobile device, automatically generate reports after an inspection, and seamlessly share them with the appropriate people. Using iAuditor in your digital risk management process helps you create rich data sets to better support your decisions and encourages compliance within your organization.

iAuditor is the world’s #1 inspection app that lets you proactively manage safety and quality in your business with the use of your mobile device or tablet. Use iAuditor as a risk management software and be able to:

  • Streamline audits – Save time from manual entry when doing an audit. Attach notes and media directly during inspections.
  • Automate communication – Receive immediate notifications when critical risks are identified or when audit scores start to drop.
  • Deliver immediate actions – Create corrective actions for issues in need of immediate resolution. Assign actions to members of the organization and set the time, date, and priority level.
  • Gain safety & quality insights – Get real-time insights from comprehensive reports that automatically generate every time you complete an audit. Preview a sample report here.
  • Share reports immediately – Automatically send your reports to multiple recipients. Reports are shareable in multiple formats (PDF, Word, CSV, JSON, HTML or XML) and delivery options (email, dropbox, sharepoint, or more).

SafetyCulture staff writer

Erick Brent Francisco

Erick Brent Francisco is a content writer and researcher for SafetyCulture since 2018. As a content specialist, he is interested in learning and sharing how technology can improve work processes and workplace safety. His experience in logistics, banking and financial services, and retail helps enrich the quality of information in his articles.

Erick Brent Francisco is a content writer and researcher for SafetyCulture since 2018. As a content specialist, he is interested in learning and sharing how technology can improve work processes and workplace safety. His experience in logistics, banking and financial services, and retail helps enrich the quality of information in his articles.