Risk Register
The risk register is generally presented in a spreadsheet format (although can be included as a table in the business case for smaller projects). It generally includes the following components as columns:
- Risk ID
- Risk author
- Date registered
- Category/type (personnel, communication, technical, environmental, etc…)
- Description
- Probability (very low, low, medium, high, very high)
- Proximity level (low, medium, high)
- Impact (low, medium, high)
- Response category (avoid, accept, reduce, transfer, exploit)
- Risk response description
- Risk status
- Risk owner
- Risk actionee
The risk register is reviewed at project board meetings and considered by the Project Manager and Team Leads throughout the project lifecycle. New risks are added to the register when they are identified and risks already on the register are updated to reflect any new status in terms of probability, proximity and impact.