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What is a “risk management checklist”?

At the end of a train of governance documents for legal departments such as mission statements, corporate policies, and contract templates, an article in Int’l In-House Counsel J., Vol 2, Summer 2009 at 1299, closes with the ambulance: “risk management checklists.” The author proceeds to explain each of the terms, except that last one, which set me wondering.

As its risk management checklist, a diligent legal team might prepare checklists of pratfalls in common activities and how to mitigate their legal consequences. If the internal lawyers retrieve those checklists, consult them, and apply them, life will improve. If that is not the gist of a “risk management checklist,” I welcome examples (See my post of Nov.15, 2005: legal risk with 7 references; and March 23, 2008: risk management with 18 references.).