What is a characteristic of a risk management plan?

A risk management plan is inherently dynamic, reflecting the evolving nature of risks throughout a project's lifecycle. This means it needs to be regularly updated to ensure that all potential risks are identified, assessed, and managed appropriately as the project grows and changes. Such updates may include new insights from team members, changes in project goals, or shifts in the external environment that could introduce new risks or alter existing ones.

A well-maintained risk management plan acknowledges that risks can arise at any stage and that proactive management is essential. Regular updates ensure that the project team is aware of current risks, mitigation strategies are in place, and necessary adjustments to plans can be made promptly. Recognizing the need for continuous review helps foster a culture of risk awareness and preparedness within the project team.