The project manager creates Risk Management Plan and the following information is included in this plan:
1. Risk reporting format.
2. Frequency of risk assessment.
3. People who will be involved in risk assessment reporting.
4. Risk and Impact Matrix
5. Risk Categories
6. Types of risks that will be assessed and that will not be assessed.
7. The level to which each risk will be monitored, tracked and controlled.
8. Stakeholders who will be informed of risk information, and the level of detail that will be given to each stakeholder.
9. Name of tools that may be used to record, monitor and track the risks, e.g Oracle Primavera Risk Analysis
10. Medium by which risk details will be communicated to each stakeholder, i.e by email, telephone, mail, in person in meetings, etc.
Once the plan has been created, mainly its audience will be the project sponsor, project team and the management.