Transcript The Risk Register

By Tom, Chris, Adam and Leo
THE RISK REGISTER
What is a risk register?
A risk is an undesirable future event. The
Risk Register analyzes risks and drives
action to:
• Reduce the likelihood of the risk
occurring.
• Increase the visibility of the risk.
• Increase the ability to handle the risk,
should it occur.
• Reduce the impact of the risk, should it
occur.
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Risk register Components
include:
• Dates – important because the register is
a “living document”
• Risk Description
• Risk Type
• Likelihood of occurrence
• Severity of effect
• Countermeasures – Actions to be taken
• Owner – Responsible individual
• Status – Being fixed, fixed or to
be fixed
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Risk Register for project "birthday party"
Example of a Risk Register
Risk
Category
Risk Name
Risk
Number
Probability
Impact (1-3) Risk Score
(1-3)
Guests
The guests
find the
1.1.
party boring
2
2
4
Guests
Drunken
brawl
1.2.
1
3
3
Nature
Rain
2.1.
2
2
4
Nature
Earthquake
2.2.
or fire
1
3
3
Food
Not enough
3.1.
food
1
2
2
Food
Food is
spoiled
1
3
3
3.2.
Mitigation
Invite crazy
friends,
provide
sufficient
liquor
Don’t invite
crazy
friends,
don't
provide too
much liquor
Have the
party
indoors
Start the
party with
instructions
on what to
do in the
event of fire
or
earthquake
Have a
buffer
Store the
food in
deep
freezer
Contingenc
Action By
y
Action
When
Bring out
Mack
the karaoke
within 2hrs
Bring in the
Jerry
guards
Now
Move the
party
indoors
10mins
Milind
Implement
the
appropriate
natural
Everyone
disaster
response
plan
As per plan
Order pizza Magua
30mins
Order pizza Zubair Malik 30mins
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Different Visual forms of a risk
register…
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