Risk Management Plan (RMP)

A Risk Management Plan (RMP) is a structured approach used by organizations to identify, assess, and handle potential risks that could negatively affect their goals or projects. It involves systematically pinpointing possible problems, evaluating their likelihood and impact, and developing strategies to prevent or minimize them. The plan ensures that risks are managed proactively, resources are allocated effectively, and there’s a clear process for dealing with uncertainties. Overall, an RMP helps organizations operate more confidently by reducing surprises and safeguarding their success.