Document the Risk Management Plan

The risk management plan is where the strategy from the previous task becomes a concrete, written document. It starts with defining roles and responsibilities — who owns what in the risk process — typically aligned to a Responsibility Assignment Matrix like RACI, so there's no ambiguity about who's actually accountable for a given risk activity.

A well-documented plan lists the key artifacts and resources the team will use, outlines risk management activities with enough specificity to answer who, what, when, where, and how, and explains how a Risk Breakdown Structure (RBS) — a hierarchical decomposition of risk by category — supports the plan the way a WBS supports scope. It also defines a risk communication plan (how risk information actually gets shared), risk prioritization criteria (how competing risks get ranked against each other), and a strategy for empowering and educating stakeholders so they can meaningfully participate in risk management rather than just receive reports about it.

Study focus: the RBS is frequently confused with the risk register on the exam. The RBS is a categorization structure (a hierarchy of risk categories, used in planning and analysis); the risk register is the living log of actual, specific identified risks. One organizes categories, the other tracks instances.