The Simple Risk Register for Project Management


The Risk Register is a simple method to record the potential risks during a project. The risks need to be assessed from time to time so that potentially they can be mitigated.

I was told to create a simple Risk Register form ant put down potential risks. The Risk Register form at least should contain the following fields:

  • Risk Description
  • Probability (how likely it occurs)
  • Impact to the project
  • Mitigation Methods (What are proposed to reduce the probability and impact)

Complex Risk Register Forms could extend fields to:

  • Date Raised
  • Risk Owner
  • Mitigation Costs
  • Contingent action
  • Progress on actions

etc. I have made a very simple Risk Register Form (template) in Microsoft Excel Format (.xlsx) and I would like to share with you:

Risk Register Template Download: https://rot47.net/bv bv The Simple Risk Register for Project Management excel project management

risk-register-excel-template The Simple Risk Register for Project Management excel project management

risk-register-excel-template

The probability (or likelihood) is estimated by values (could be float) from 1 to 3 with 1 unlikely and 3 means highly likely. The Impact is also assessed by scores 1 to 3 with 1 means low and 3 means great impact.

If we multiple probability and impact, we get a product which is from 1 to 9, and we can divide into three ranges:

  • 1 to 3 – Low
  • 4 to 6 – Medium
  • 7 to 9 – High

In Excel spreadsheet, the Risk Assessment column is entered as

=IF(F2<=3, "Low", IF(F2<=6, "Medium", "Great"))

Risk Register is very useful in monitor the progress of a project and can control the risks and save the project.

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