# Risk Action Plan A structured document that captures the full lifecycle of a project risk. Each Risk Action Plan includes: - **[[Risk Description|Description]]** — The cause, event, and effect framed as a structured statement - **Key Assumptions & Current Controls** — What is already in place and what is assumed - **[[Sources of Information]]** — Contract clauses, specifications, reports, and other references - **[[Risk Mitigation Strategy]]** — The adopted response strategy and specific actions - **Status Timeline** — A chronological record of all updates, decisions, and actions taken The Risk Action Plan serves as the single source of truth for each risk, updated continuously throughout the project lifecycle.