Risk management planning, monitoring and reporting requirements

Risk management planning, monitoring and reporting requirements
Risk Appetite Risk Rating Required Action
High Moderate Low Very High Ensure the project's sponsor or governace is aware of risk and agrees with the plan to manage risk. If the risk has an institutional impact, ensure this is communicated so that the risk can be further escalated. In addition, speak to your director about the escalation plan to track and keep abreast of decisions that may affect the project.
Moderate Low High Ensure the project's sponsor or governance is aware of risk and agrees with the plan to manage risk. If the risk has an institutional impact, ensure this is communicated so that the risk can be further escalated. Track when the risk is escalated.
Low Medium Report the risk up to the project’s sponsor or governance team to determine if the management plan for the risk is acceptable.
N/A Low         Very Low Requires no attention above routine practices and procedures, and monitoring.