What To Use it For
Read my guide to project risk management to find out more about the risk log and how it fits into your project more generally.
In summary, a project risk log is a way to record all the things that might affect your project. For example, you might not get the equipment delivered on time, as the supplier has hinted that your timescales are too tight. This goes in the risk log. It’s a way of capturing the kinds of things that could affect your ability to complete the work on time, on budget and to the required specification.
Then you can look back on the risks on a regular basis – say, once a month – and check that you are doing something about them. That way you can head the problems off before they become bigger issues for you and your team to deal with. It’s a way of managing your work so you don’t need to use Plan B.
What’s In the Project Risk Log Template
It’s an easy-to-use spreadsheet with sortable columns. It isn’t going to help you calculate the probability of risk with any greater degree of accuracy than a 1 to 5 scale, so you’ll have to do your detailed calculations outside of it, if that’s your thing. For the majority of projects that need to simply record the risks and the action plan devised in order to handle them, this template will be fine.
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