Before performing the steps of risk management, increase your chances of success by first planning, which amounts to taking some time to decide and define what you need.
What Tools Will You Use in Managing Risk?
Tools are such things as forms, policies, procedures and software you will use to implement and perform risk management. If your company has a Project Management Office or even a Risk Management Department, you may have access to ready-made tools. If not, decide what you need and what the project needs in regards to tools. Are you new to risk management? Maybe you just need a basic procedure and a few basic forms to get you started. See Rita Mulcahy’s book, Risk Management: Tricks of the Trade for Project Managers for examples of steps, strategies and forms (RMC Publications, Inc).