Description
An issue is a major problem, opportunity, concern or situation that will impede the progress or successful completion of the project and requires immediate resolution. An issue management plan defines activities and business rules to manage and control issues that arise during the project.  

Rationale/Purpose

Issues should be resolved as quickly as possible. Defining and following an issue management plan brings visibility to issues and accountability for how issues are acted upon and helps ensure issues are resolved effectively and in a timely manner. Observing business rules for prioritization and escalation ensures that issue management is consistent with the project’s objectives.

Who is involved?

Project Manager
Project Sponsor

Result
Issue Management Plan component of the Project Plan