ULTIMATE - Risk Management Plan

“The purpose of the Risk Management Plan is to provide a risk identification procedure and a specific strategy in case of risk materialization within the project execution. Risk management is a continuous process throughout the lifetime of a project. This process involves the risk management chain that includes the identification, analysis, monitoring, controlling and reporting the potential technical and management risks. The proposed strategy also covers other issues that might affect the project progress towards its objectives, including potential mitigation actions to act as early as possible. The risk assessment process is continuous, and therefore the risk management plan will be updated throughout the entire lifetime of the project. One of the main contributions of the present deliverable is to provide a methodology to mitigate risk and subsequently minimising unexpected and collateral potential effects, in order to ensure the correct execution of the project.
The current document is the first version of the Risk Management Plan. It documents the processes, tools and procedures that will be used to identify, manage and control risks. It also defines the roles and responsibilities of the consortium partners in the risk management processes in the project. Finally, this risk management plan describes the risks identified up until the time of writing of the Risk Management Plan, and for each identified risk it details the estimated impact of the risk and the means of monitoring and mitigation through appropriate contingency planning.”

(Citation: van den Broeke, J., Vamvakeridou-Lyroudia, L.S. – ULTIMATE – Risk Management Plan – D7.4 (2020))