Risk Matrix Identify risks: List potential risks associated with your project. Assess probability: Determine the likelihood of each risk occurring (for example, high, medium, low). Assess impact: Evaluate the potential impact of each risk (for example, high, medium, low). Mitigation plans: Develop action plans to mitigate the identified risks. Example Risk Matrix Risk ID Risk Description Probability Impact Migration Plan 1 Supplier delay Medium High Identify backup suppliers. 2 Budget overrun High High Implement cost control measures. 3 Technical issues Low Medium Schedule regular system checks. Communications Matrix Identify stakeholders: List all stakeholders who need project information. Determine information needs: Identify the type of information each stakeholder requires. Frequency: Decide how often each stakeholder needs updates (for example, daily, weekly, monthly). Communication methods: Specify how the information will be communicated (for example, email, meetings, reports). Example Communications Matrix Stakeholder Information Needed Frequency Method Project Sponsor Project status updates Weekly Email/meetings Team Members Task assignments Daily Project management software Vendors Delivery schedules Biweekly Email/calls Clients Progress reports Monthly Reports By completing these sections and integrating them into your Project Plan Template, you will create a comprehensive plan that addresses both the risks and communication needs of your project