SafetyCulture Summit 2020

Risk Management Plan Templates

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Published October 19th, 2020

What is a Risk Management Template?

A risk management plan template is an essential tool used by project managers to establish a framework that will recognize and address potential risks and threats associated to the project at hand. The risk management process involves the following:

  • Risk Identification: Identifying all potential risks affecting the project.
  • Risk Assessment: Prioritizing identified risks based on severity/damage impact.
  • Risk Mitigation: Reducing the occurrence of risk/threat by implementing control measures or removing/modifying certain aspects
  • Risk Monitoring: Evaluating the effectiveness of set control measures

What Should be Included in a Risk Management Plan?

As an essential tool for risk management, a risk management plan typically includes the following:

  • All the identified risks that can potentially impact a project.
  • A scale that estimates the likelihood of a risk’s occurrence and seriousness of impact.
  • The consequences on the project should any of the risks take place.
  • Mitigation actions that intend to either prevent the occurrence of identified risks or control their impact should they happen. 

Manage your Risk Management Plan with iAuditor

Improve risk management processes with the latest technology. Typical paper-based methods can be time-consuming and present physical storage issues in the long run. Using digital checklists and systems can help you save more time, encourage compliance, and create rich data sets that will help you build better processes.

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. Learn more here
  • 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. Learn more about iAuditor actions.
  • 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).

Author

Erick Brent Francisco

SafetyCulture staff writer

As a staff writer for SafetyCulture, Erick is interested in learning and sharing how technology can improve work processes and workplace safety. Prior to SafetyCulture, Erick worked in logistics, banking and financial services, and retail.