Is a Model Management Plan legally required?

There is no single federal requirement mandating a plan for all models. Certain regulated sectors, however, expect model risk management controls—financial institutions and healthcare entities should follow sector-specific guidance and retain evidence for regulatory reviews.

Can the plan be signed electronically?

Yes. Electronic signatures meet U.S. legal standards under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided intent, consent, attribution, and record retention requirements are met.

Who must sign the plan?

Typical signatories include the model owner, the independent validator, and a senior risk or compliance representative. The plan should specify authorized signers and delegation rules for approvals.

How often should the plan be updated?

Update the plan when model scope, data sources, ownership, or critical controls change. High‑risk models should have annual reviews; lower‑risk models may follow a multi‑year cadence.

What records should be stored with the plan?

Store datasets or dataset snapshots, code commits, trained model binaries, validation reports, approval records, and monitoring logs to support reproducibility and audits.

How long do I keep plan records?

Retain records for the model’s active life plus applicable regulatory windows. For healthcare, keep related records for six years per 45 CFR §164.530(j); tax or financial matters may require three to six years.

Model Management Plan

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MODEL MANAGEMENT PLAN

This Model Management Plan (the "Plan") is entered into by and between:

Manager Name: Manager Address: Model Name: Model Address:

Effective Date:

WHEREAS

WHEREAS, Manager is engaged in the business of talent management, representation, and promotion, and possesses the experience, contacts, and resources necessary to promote and procure engagements and opportunities for models; and

WHEREAS, Model desires to engage Manager to render management and representation services related to Model's modeling career on the terms and conditions set forth in this Plan;

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein, the parties agree as follows:

SCOPE OF WORK

Scope of Services (describe in detail):

Manager shall use commercially reasonable efforts to procure engagements, negotiate terms, coordinate scheduling, and provide strategic career advice. Manager's responsibilities include booking, negotiation of compensation on behalf of Model, and coordinating promotional activities as specified in the Scope of Services.

MANAGER RESPONSIBILITIES

Manager will: (a) actively solicit and present opportunities to Model, (b) negotiate terms consistent with Model's instructions and industry standards, and (c) maintain records of bookings and receipts. Manager shall not enter into any contract on behalf of Model without prior written authorization from Model.

MODEL OBLIGATIONS

Model agrees to: be available for reasonable auditions, castings, calls and bookings; maintain professional conduct; provide accurate personal and measurement information; and not engage other managers for the services described herein except as expressly permitted by this Plan.

PAYMENT TERMS

Manager shall be compensated as follows:

Management Fee / Commission (%): Flat Fees or Retainer (if any): Payment Schedule: Payment Method: Late Fee (percentage per month):

Manager is authorized to deduct any agreed commission or fees from gross compensation received on Model's behalf. All payments due to Model shall be remitted within the timeframe set forth in the Payment Schedule after deductions for commissions, approved expenses, and applicable withholdings.

TERM AND TERMINATION

Term: This Plan commences on and continues until unless earlier terminated in accordance with this Section.

Notice Period for Termination (days):

Either party may terminate this Plan for material breach by the other party if such breach remains uncured for the notice period above following written notice. Termination does not relieve Model of obligations to pay commissions earned for engagements procured by Manager prior to termination for the duration of any specified post-termination commission period set forth in this Plan.

CONFIDENTIALITY

Each party shall keep confidential and shall not disclose to any third party any non-public information concerning the other's business, clients, rates, strategies, or personal data obtained in the course of performance under this Plan, except (a) as required by law, (b) to the extent necessary to perform obligations under this Plan, or (c) information that is or becomes publicly known other than by breach of this obligation. Confidential information shall be used solely for the purposes of performing this Plan.

INTELLECTUAL PROPERTY, IMAGE, AND LIKENESS

Model hereby grants Manager a non-exclusive right to use Model's name, likeness, photographs, and biographical material solely for promotional activities and solicitation of engagements. Any third-party use of Model's intellectual property or likeness shall require prior written consent unless included in an engagement contract signed by Model.

GOVERNING LAW

This Plan shall be governed by and construed in accordance with the laws of the State of without regard to principles of conflict of laws.

ENTIRE AGREEMENT

This Plan, together with any written schedules or attachments signed by the parties, constitutes the entire agreement between Manager and Model with respect to the subject matter hereof and supersedes all prior negotiations, understandings, and agreements. No amendment shall be effective unless in writing and signed by both parties.

MISCELLANEOUS

Assignment: Neither party may assign this Plan without the prior written consent of the other, except that Manager may assign to an affiliate or successor in connection with a sale of substantially all of its business assets. Severability: If any provision is held invalid, the remaining provisions shall remain in full force and effect.

Manager:

By:

Date:

Model:

By:

Date:

What a Model Management Plan Is and when it applies

A Model Management Plan documents governance, lifecycle controls, roles, and controls for models used in an organization. It covers model development, validation, deployment, monitoring, versioning, change control, and retirement. The plan clarifies responsibilities for model owners, validators, and data stewards, and it defines documentation standards, performance metrics, and approved tooling. Use this plan to ensure consistent model behavior, reproducible results, and demonstrable compliance with internal policy and external requirements when models affect business decisions, customer outcomes, or regulated data.

Why a formal plan matters for model risk and operational clarity

A Model Management Plan reduces operational risk by establishing consistent practices for design, testing, validation, and monitoring. It supports auditability, traceability, and regulatory readiness while helping teams coordinate roles and handoffs across development, compliance, and production operations.

Primary users and stakeholders for the plan

Organizations adopt a Model Management Plan when models materially affect customers, finances, safety, or regulated data flows.

Data Science Teams responsible for building and documenting model design, training data, evaluation metrics, and reproducibility measures.
Risk & Compliance Teams that validate model behavior, audit controls, and maintain evidence for internal or external reviews.
IT / DevOps Teams that handle deployment, monitoring, scaling, and secure access to model artifacts.

The plan aligns contributors across the model lifecycle and clarifies who signs off at each stage, improving accountability and regulatory readiness.

Essential sections to include in a professional Model Management Plan

A complete plan combines governance, technical specifications, validation procedures, deployment controls, monitoring requirements, and recordkeeping policies so readers can find obligations and evidence quickly.

Governance

Define ownership, approval authorities, decision rights, escalation paths, and periodic review cadence for each model family.

Model Inventory

Maintain a register of models with purpose, input data sources, version identifiers, operational owners, and criticality classification.

Development Standards

Describe reproducible development practices: code repositories, data lineage, experiment tracking, testing protocols, and documentation templates.

Validation & Testing

Specify independent validation scope, performance thresholds, fairness checks, sensitivity analyses, and acceptance criteria before deployment.

Operational Controls

List deployment procedures, access controls, service-level monitoring, rollback triggers, and incident response steps for model failures.

Retention & Audit

Set documentation retention periods, audit-trail requirements, and storage locations for datasets, code, and model artifacts.

Required information fields to capture in the plan

Model Name: Unique identifier

Purpose: Business objective

Owner: Responsible party

Version: Semantic version

Data Sources: Input lineage

Validation Status: Approved / Pending

Step-by-step: completing a Model Management Plan

Follow these sequential steps to prepare, review, and approve a Model Management Plan for a single model version.

01

Draft Plan: Populate inventory, purpose, data sources, and owner details.
02

Run Validation: Execute independent tests, document metrics and bias analysis.
03

Stakeholder Review: Obtain approvals from risk, legal, and business owners.
04

Approve & Publish: Record approval, assign version, and store artifacts in the register.

Configuring an online workflow for the plan

Map each plan stage to a workflow state and configure automated notifications to reduce manual handoffs and support traceability.

Field	Configuration
Draft State	Allow edits; assign owner
Validation State	Require validation report upload
Approval State	Trigger approvals from named roles
Published State	Lock record; archive artifacts

Typical routing and submission flow

A clear routing flow reduces delays: create -> validate -> review -> approve -> publish. Automate notifications and store evidence at each step.

Create: Owner creates the plan and attaches artifacts.
Validate: Independent validator uploads findings and signs off.
Approve: Risk and business approvers confirm readiness.
Publish: Plan is recorded in inventory and made accessible.

Delivery methods and platform considerations

Decide how teams will access plans: centralized repository, document management system, or governance portal.

File Formats: PDF or DOCX preferred for portability
Access Controls: Role-based access required
Integrations: Connect to Git, MLOps, and ticketing

Ensure platform logs, versioning, and export functions meet audit needs and that retained copies are immutable where required.

Key timeline items and review deadlines

Establish regular milestone dates for validation, monitoring, and formal review to maintain model performance and compliance.

Initial Validation Deadline:

Complete validation before first production use.

Periodic Review:

Conduct at least annually for high-risk models.

Performance Monitoring:

Monitor continuously; escalate on degradation.

Change Control Approval:

Obtain approvals prior to material updates.

Retirement Date:

Document decommissioning and archive artifacts.

Common mistakes to avoid when preparing the plan

Vague model descriptions that omit input data lineage, making reproduction and validation impossible.
Failing to assign a clear owner or approver, which causes review delays and accountability gaps.
Skipping independent validation or using incomplete test sets that miss bias or performance regressions.
Not versioning datasets, code, and model artifacts, which prevents rollback and impedes incident investigation.

Typical risks and regulatory consequences to note

Regulatory Fines: Privacy breaches can trigger state or federal penalties

Operational Loss: Model failure can cause financial loss

Reputational Harm: Poor outcomes damage trust

Legal Liability: Consumer harm may lead to lawsuits

Contract Breach: Noncompliance can violate vendor SLAs

Audit Findings: Inadequate documentation leads to deficiencies

Comparing eSignature vendors for executing and approving the plan

Basic vendor criteria for eSignature selection: starting price, trial availability, bulk-send support, audit trail, HIPAA compliance, and envelope limits.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes	Yes	Yes	Yes	Varies by plan
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No envelope cap	100 envelopes/user/year	Varies by plan	Varies by plan	Varies by plan

Frequently asked questions about Model Management Plans

Answers to common questions about scope, signatures, legal validity, updating, and storage practices for a Model Management Plan.

Need help? Contact support

Is a Model Management Plan legally required?
There is no single federal requirement mandating a plan for all models. Certain regulated sectors, however, expect model risk management controls—financial institutions and healthcare entities should follow sector-specific guidance and retain evidence for regulatory reviews.
Can the plan be signed electronically?
Yes. Electronic signatures meet U.S. legal standards under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided intent, consent, attribution, and record retention requirements are met.
Who must sign the plan?
Typical signatories include the model owner, the independent validator, and a senior risk or compliance representative. The plan should specify authorized signers and delegation rules for approvals.
How often should the plan be updated?
Update the plan when model scope, data sources, ownership, or critical controls change. High‑risk models should have annual reviews; lower‑risk models may follow a multi‑year cadence.
What records should be stored with the plan?
Store datasets or dataset snapshots, code commits, trained model binaries, validation reports, approval records, and monitoring logs to support reproducibility and audits.
How long do I keep plan records?
Retain records for the model’s active life plus applicable regulatory windows. For healthcare, keep related records for six years per 45 CFR §164.530(j); tax or financial matters may require three to six years.

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