What essential elements should be documented in a risk management plan?

The correct choice emphasizes the key components that form the foundation of an effective risk management plan. A comprehensive risk management plan must include a clear identification of the risks that may impact an organization, along with the results of assessments that evaluate the severity and likelihood of these risks. Once risks are identified and assessed, it is crucial to outline specific mitigation strategies that detail how the organization intends to reduce or eliminate the risks. Additionally, monitoring procedures are essential to track the effectiveness of these strategies and to ensure ongoing awareness of any changes in risk status or new risks that may arise. This systematic approach not only helps in managing current risks but also prepares the organization to respond to future uncertainties.

In contrast, other options do not cover the essential elements required for a robust risk management plan. Marketing strategies and financial forecasts focus on business growth and viability rather than risk mitigation. Documenting only employee roles and responsibilities does not adequately address the comprehensive nature of risk management, and providing technical specifications might be relevant for system design but does not contribute to understanding or managing risks effectively.