---
ref_id: PR21
ref_type: Process
ref_name: "Plan Risk Management"
version: "1.0.0"
status: Active
pmbok8_source: "PMBOK8 Guide §2.7.2.1"
companion_ref_shortcode: PG-APG-5.18
related_skills:
  - SKL-03-11
related_artifacts:
  - A19
file_path: "reference/processes/PR21-plan-risk-management.md"
---
# PR21 — Plan Risk Management

## Classification
- **Performance Domain:** Risk
- **Process Group:** Planning
- **PMBOK 8 Reference:** Section 2.7.2.1
- **Process Groups Practice Guide Reference:** Section 5.18

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## Purpose
Plan Risk Management is the process of defining how to conduct risk management activities for a project. The key benefit is that it ensures the degree, type, and visibility of risk management are proportionate to the risks and the importance of the project.

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## Inputs
- Project charter
- Project management plan (all components)
- Project documents: stakeholder register
- Enterprise environmental factors
- Organizational process assets

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## Tools & Techniques
- Expert judgment
- Data analysis (stakeholder analysis)
- Meetings

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## Outputs
- Risk management plan

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## Key Concepts
- Risk management planning begins when the project is conceived and is completed early in planning.
- The risk management plan defines: risk strategy, methodology, roles and responsibilities, funding, timing, risk categories (RBS), stakeholder risk appetite, definitions of risk probability and impacts, probability and impact matrix, and reporting formats.
- Risk appetite is the degree of uncertainty an organization or individual is willing to accept in anticipation of a reward.
- Risk threshold is the measure of acceptable variation around an objective.
- Risk classifications: known-unknown (classic risk), unknown-unknown (emergent risk), unknown-known (hidden fact), known-known (managed as scope).

---

## Source Traceability
- PMBOK 8: Section 2.7.2.1
- Process Groups Practice Guide: Section 5.18

---

## Cross-References

| Related Item | Type | Relationship |
|---|---|---|
| A19 | Artifact | Primary artifact produced or updated by this process |
| SKL-03-11 | Skill | Skill that executes this process |

## Practitioner Notes

Practitioners executing this process should seek answers to the following questions:
1. Is the risk management plan tailored to project complexity and organizational risk appetite?
2. Are risk categories defined in a risk breakdown structure (RBS)?
3. Are roles, responsibilities, and authority levels for risk decisions documented?
4. Are risk thresholds and tolerance levels explicitly stated?
5. Is the risk management plan integrated with the contingency reserve strategy?

## Change Log

| Version | Date | Description | Author |
|---|---|---|---|
| 1.0.1 | 2026-06-03 | Added Cross-References, Practitioner Notes, and Change Log sections (F-12 Batch 4) | PMO Director |
