More Risk Register Templates and Examples

Risk Register Template

Risk Register Template

Project Risk Register

Project Risk Register

Risk Probability and Impact Matrix

Risk Probability and Impact Matrix

Mind Map for Risk Identification

Mind Map for Risk Identification

Risk Matrix 3x3

Risk Matrix 3x3

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Guide and Best Practices

The risk register, which is also referred to as a risk log, is a project management tool. It is used to document information about identified risks which include the nature of the risk, the level of risk, who is responsible for it, and the preventative measures and corrective action in place. The risk register is usually created at the beginning of a project, and is frequently referenced and updated throughout the project lifecycle. It serves as a brainstorming framework to establish risks and as a database of possible and potential risks and mitigation measures for them.

How to Create a Risk Register

  • Creating the risk register begins with identifying the risks. These can be derived from the past lessons learned, historical data pertaining to similar projects, task owners, and through brainstorming.
  • Document the risks using a Creately risk register template. As required you can add information such as the owner of the risk, the likelihood of it occurring, the impact it would make, the mitigation actions, and more to the register.
  • Identify the possible impact it would cause should the risk occur. Based on the likelihood and the probability of the risk resulting in adverse consequences, you can then rank (low, medium, high) them from high probability and high risk to low probability and low risk.
  • Identify if there are controls currently in place to address the identified risks, and if not determine the mitigation actions to be applied based on the ranks given to them.
  • Monitoring each risk should be carried out by the responsible person who should also lead action to mitigate it.

More templates and visual ideas for risk management

5x5 Risk Matrix Template

5x5 Risk Matrix Template

Risk Matrix Template

Risk Matrix Template

Business Contingency Plan Template

Business Contingency Plan Template

Business Contingency Plan Example

Business Contingency Plan Example

Business Contingency Plan

Business Contingency Plan

Corrective Action Plan

Corrective Action Plan

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