The project risk management plan establishes methodology, roles, risk breakdown structure, probability-impact scales, reporting formats, and tracking processes. It details when risk identification occurs (kickoff, phase gates, weekly), who participates (team, stakeholders, experts), and how responses are funded (contingency reserves). A software implementation might specify risk reviews every sprint with categorization by technical, vendor, adoption, and integration dimensions. The plan differs from the risk register by defining the management approach rather than listing specific risks. PMBOK standards guide plan development. Plans are living documents adapted as projects evolve and risks materialize.