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
Guests
The guests
find the
1.1.
party boring
Risk Number
Probability
(1-3)
2
Impact (1-3) Risk Score
Mitigation
Contingency Action By
Action When
2
4
Invite crazy
friends,
Bring out
provide
Mack
the karaoke
sufficient
liquor
within 2hrs
Now
10mins
Guests
Drunken
brawl
1.2.
1
3
3
Don’t invite
crazy
friends,
Bring in the
Jerry
don't
guards
provide too
much liquor
Nature
Rain
2.1.
2
2
4
Have the
party
indoors
Move the
party
indoors
Implement
the
appropriate
natural
Everyone
disaster
response
plan
As per plan
Order pizza Magua
30mins
Milind
Nature
Earthquake
2.2.
or fire
1
3
3
Start the
party with
instructions
on what to
do in the
event of fire
or
earthquake
Food
Not enough
3.1.
food
1
2
2
Have a
buffer
Food
Food is
spoiled
1
3
3
Store the
food in deep Order pizza Zubair Malik 30mins
freezer
3.2.
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Different Visual forms of a risk
register…
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