Certified Governance Risk and Compliance (CGRC) Practice Exam 2025 – All-in-One Guide to Master Your Certification!

The risk management plan is a critical document for project managers, as it specifically addresses the processes and procedures necessary for identifying, assessing, and quantifying risks associated with a project. This plan outlines how risks will be managed throughout the project lifecycle, including the tools and techniques that will be used to identify risks, likelihood assessments, impact evaluations, and the strategies for response.

This plan ensures that project managers are prepared for potential issues that could disrupt the project's objectives and helps establish a proactive approach to risk assessment. Additionally, it defines roles and responsibilities regarding risk management, ensuring that all team members understand their part in identifying and mitigating risks.

Other documents, such as the project management plan, encompass broader aspects of project execution, while the resource management plan focuses specifically on the resources needed for the project. The project plan also contains various components related to project delivery but does not prioritize risk management in the same detailed manner as the risk management plan does. Thus, the risk management plan is the most appropriate answer for managing risks throughout a project.