What is a risk management plan (RMP)?

A risk management plan (RMP) is essential in addressing potential hazards, specifically focusing on the prevention and response strategies associated with the release of hazardous substances. This plan is designed to identify risks, analyze the likelihood and consequences of release events, and implement measures that effectively minimize the impact on health and the environment.

The RMP is typically required for facilities that handle certain quantities of hazardous materials, aligning with regulations such as the Clean Air Act's Risk Management Program rule. By outlining specific procedures, training, and emergency response actions, the RMP ensures that facilities are prepared to manage incidents effectively, safeguarding employees and surrounding communities.

The other options, while related to safety and compliance in different contexts, do not directly align with the primary focus of a risk management plan as it pertains to hazardous substance management. For example, compliance with environmental regulations may be a broader aspect of environmental management but does not specifically address the strategies to prevent and respond to hazardous releases. Similarly, financial auditing and employee performance assessments fall outside the scope of an RMP, which is fundamentally concerned with risk assessment and mitigation regarding hazardous materials.