Risk Register

When to use it

Use this tool to identify any potential risks in a project and how they can be mitigated.

What’s the purpose

A risk register is a project management document that is created at the start of a project and updated as it progresses. This template helps you prepare for and make a plan to mitigate any potential risks, in order to avoid them having an impact on the project outcomes.

How to do it

Using the ‘Risk register’ template, begin by identifying and listing all possible risks to your project. If you’re working as a group, cluster similar risks together.
Next, copy each risk over to the risk matrix, ensuring that all columns are filled in.
Likelihood and impact are represented by a red, orange or yellow block, with red indicating the most likely or most impactful. Severity is also represented by a color block and is a determined according to the combination of likelihood and impact. Fill the block with a sticky note or shape in the relevant colour.
Make sure that everyone assigned as an owner of a risk is aware of their responsibility to monitor and update the risk register.
Make time to review and update the risk register at regular intervals, keep everyone involved up to date, and ensure everyone stays on track.

Helpful tips

You can complete a ‘Risk Register’ with the customer, or internally with your team. It’s important to agree on who will play the role of project manager and assign roles to each person within the project group.
Keep this document updated as you progress through the project so that you always know which risks need attention at any given time.

Using this method in your day-to-day work

Ever had someone ask you, “What’s the worst thing that could happen?” A risk register is the answer to that question. Although it’s typically a project management tool, a risk register is a useful document to help you plan for, prevent and work around your ‘worst case scenarios’. You can use this to help identify and mitigate risks in your projects or with your day to day deliverables. You could even use it to identify and consider the risks of a difficult conversation you need to have.