This book addresses three main issues. When creating risk documents for a project, the problems with categorization and formulation of risk statements appears. The book is focusing on categorization and formulation as a necessity for Experience based Risk Management (EbRM). The categorisation and formulation parts have to be solved before implementing the EbRM model. The formulation system is gathered from the Software Engineering Institute (SEI) and is called the CTC-format. This format allows you to separate conditions and consequence of the risk and thereby provides you with easier categorisation and better understandability. The categorisation system used is the SEI Taxonomy Based Categorisation (TBC), a categorisation system built as a search tree where each leaf represents a rather narrow risk domain. The conclusions of this work are that the TBC in connection with the CTC structure forms a very good basis for risk management when it comes to categorisation and formulation. Properly formulated and tagged names and a thorough process when identifying and documenting risks, the risk management will be facilitated.