This template can be used to record risks and their management. The list of risks is created at the beginning of project initiation. Many methods, including brainstorming, Delphi method, expert knowledge, analysis of the causes and consequences (root cause analysis), sample lists of risks, assumptions analysis, SWOT analysis, Ishikawa diagram and more, can be used to create it.We recommend to update the risk lists to a minimum of 1 x 14 days
Fill in the risk area from listed areas
An explicit and specific risk description (indicate lack of analysts rather than the lack of resources for the project)
Verbal description of the risk impact on the project (time, price, quality)
What is the probability of risk on a scale of 1 to 5 (1 very low, 5 very high)
What is the impact of risk on the project on a scale of 1 to 5 (1 very low, 5 very high)
Total cogency of the risk. It is calculated by multiplying the impact and probability. The higher the value means the greater total severity of the risk.
The specific person responsible for dealing with risk
The choice of procedure for the risk offered on the list (mitigation, acceptance, transfer, avoidance)
Verbal description of the procedure to handle risk
Expected time of occurrence precisely indicates when the risks (threats) becomes a real problem
Plan what to do when the risk becomes a problem
Periodically update the risk register due to their evolution during the project life cycle.