Risk Register Template

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Risk Register template
What is a Risk?
risk
project issue that has not come true yet
You can think of a
as a
. The risk could be an opportunity, but more likely it is
something that would have a negative impact on the project outcome if it were to eventuate. Good risk management is one of the keys to a
successful project - if you identify early on the things that might go wrong, you can take steps to reduce their impact or avoid them altogether.
Suggested Use and Tips
Make a copy of the table below to record risks identified during the Risk Identification Workshop at the beginning of the project.
Ensure every significant risk has an
owner and a mitigation plan
. Risk scores of 12 and above can be considered significant.
As the project progresses, add
new risks
that are uncovered and close any that have been mitigated.
Assumptions
made during planning may be a source of risk.
Maintain the Risk Register
regularly
during the project.
Create a
"Top 5"
risk list from the Risk Register and share it with the team and other stakeholders each week. (The Risk Register itself
will soon become too big for your stakeholders to digest).
Use the Risk Register as an input for your and the team's
actions
each week.
Ensure the project team
knows how
to raise and escalate risks, and what the mitigation plans are for key risks.
Schedule the riskiest work
early
in the project so you have more time to take corrective actions.
Escalate
the risks you can't solve to get assistance, or at the very least acceptance of the risk by the project sponsor and key
stakeholders.
The goal is
fewer unknowns
and being prepared for corrective action - not elimination of all project risk.
See bottom of this page for example risk categories.
Risk Register
Category
Risk
Probability
Impact (1-5)
Total Risk
Mitigation
Owner
Status
Comments
(1-5)
Score
Strategy
(=PxI)
Team
e.g. The
4
5
20
Responsibilit
John
15/6/13: 3
OPEN
project team
ies have
developer
is not
been
candidates
adequately
defined on
are in the
staffed,
the project
pipeline
and/or
home page
responsibiliti
and shared
es are
with the
unclear.
team and
other
stakeholders
. Team
Leads need
to spend
additional
time on
recruiting
and HR
team need
to start a
hiring
campaign.
Communica
Project
4
3
12
Weekly
Lisa
STABLE
tions
sub-teams
forum is now
are not
in place for
communicati
Team A and
ng
Team B
frequently or
leads.
deeply
enough

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