“Risk action plans In any project, the development and implementation of detailed action plans for reducing risks is the key to successful project risk management in practice. Risk Action Plans for treating identified risks will be part of project plans, coordinated and integrated wherever possible with established project management processes and procedures, and controlled and managed like any other activities in the project. This may require treatment actions to be integrated with existing procedures for project management, budgeting, capital expenditure approval, asset management, health and safety, human resources, environmental and other management as appropriate. The manager responsible for treating a risk may belong to the project team, the sponsoring business unit, or a functional area. Generally, responsibility should be allocated according to who is best able to deal with the matter. Responsible managers should complete Risk Action Plan summaries for each risk classified as Extreme or High on the agreed risk priority scale.” — Project Risk Management Guidelines: Managing Risk in Large Projects and Complex Procurements by Dale F. Cooper, Stephen Grey, et al. https://a.co/0ZGJ340