Risk Register Template

What is Risk Register Template?

A Risk Register Template, also known as a Risk Log or Risk Matrix, is a tool used in risk management to identify, assess, and prioritize risks associated with a project, process, or organization. The template helps to organize and categorize risks in a structured way, allowing for easy tracking and monitoring of potential threats.

A typical Risk Register Template includes the following columns:

  1. Risk ID: A unique identifier assigned to each risk.
  2. Risk Description: A brief description of the risk, including its nature, impact, and likelihood.
  3. Risk Category: The category or type of risk (e.g., operational, financial, reputational).
  4. Likelihood (or Probability): The probability or likelihood of the risk occurring, usually measured on a scale (e.g., low, medium, high).
  5. Impact: The potential impact or consequence of the risk occurring, also usually measured on a scale (e.g., low, medium, high).
  6. Risk Rating (or Risk Score): A calculated value that combines the likelihood and impact to provide an overall risk rating.
  7. Mitigation Strategies: Potential actions or strategies to mitigate or reduce the risk.
  8. Owner/Responsible Party: The person or team responsible for managing or mitigating the risk.
  9. Status: The current status of the risk, such as “identified,” “assessed,” “mitigated,” or “closed.”
  10. Notes (or Comments): Additional information or comments related to the risk.

Using a Risk Register Template can help organizations:

  1. Identify and document potential risks
  2. Assess and prioritize risks based on likelihood and impact
  3. Develop effective mitigation strategies
  4. Monitor and track risk status over time
  5. Communicate risks and mitigation plans to stakeholders

By using a structured template, you can streamline the risk management process, reduce uncertainty, and make more informed decisions about managing potential threats.

Risk Register

  • Project Name: [Enter Project Name]
  • Project Manager: [Enter Project Manager's Name]
  • Date: [Enter Current Date]
ID Risk Description Category Probability Impact Mitigation Strategy
R1 [Risk Description] [Category] [Probability] [Impact] [Mitigation Strategy]
R2 [Risk Description] [Category] [Probability] [Impact] [Mitigation Strategy]
  • Qualitative Analysis: [Describe the process for qualitative risk analysis]
  • Quantitative Analysis: [Describe the process for quantitative risk analysis]
  • High Priority: [Describe criteria for high priority risks]
  • Medium Priority: [Describe criteria for medium priority risks]
  • Low Priority: [Describe criteria for low priority risks]
ID Strategy Responsible Party Deadline Status
R1 [Mitigation Strategy] [Responsible Party] [Deadline] [Status]
R2 [Mitigation Strategy] [Responsible Party] [Deadline] [Status]
  • Monitoring Frequency: [Specify how often risks will be reviewed]
  • Review Process: [Describe the process for reviewing and updating the risk register]
  • Approved by: [Enter Approver's Name]
  • Signature: [Enter Signature if applicable]
  • Date: [Enter Approval Date]

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  • project/templates/risk_register_template.txt
  • Last modified: 2024/07/16 18:27
  • by Henrik Yllemo