Risk Register

This template is designed to help you document, track, and manage risks throughout your project, ensuring effective risk mitigation and project success. Below is a detailed overview of the Project Risk Register Sample provided.

What is a Project Risk Register?

A Project Risk Register is a crucial document in project management that records all identified risks, their assessment, and the planned risk responses. It serves as a central repository for all risk-related information, facilitating proactive risk management. Here’s why a Project Risk Register is essential:

Key Components of a Project Risk Register:

1. Risk ID: A unique identifier for each risk, making it easy to reference and track.
2. Identification Date: The date on which the risk was identified.
3. Risk Details: A description of the risk, including its event, cause, and effect.
4. Risk Assessment:
   • Category: The type of risk (e.g., Technical, Environmental).
   • Urgency: The urgency level of the risk.
   • Probability: The likelihood of the risk occurring (scaled from 0.1 to 0.99).
   • Impact: The potential impact of the risk (scaled from 1 to 10).
   • Risk Score: The product of probability and impact, used to prioritize the risk.
5. Risk Response:
   • Risk Owner: The person responsible for managing the risk.
   • Strategy: The planned response strategy (e.g., Mitigation, Transfer).
   • Actions: Specific actions to be taken to address the risk.
6. Revision Date: The date on which the risk details were last reviewed or updated.
7. Risk Status: The current status of the risk (e.g., Open, Closed).
8. Comments / Updates: Additional notes, updates, and comments regarding the risk.

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