The Risk Register
also be known as a Risk Log)
Purpose of the Risk Register
risk register is a document maintained in order to monitor potential
risk register tracks the actions taken to minimise risks.
risk register provides contingency plans that should be invoked
if a risk does occur.
risk register provides details of costs involved in mitigation
of the risk
risk register is a record that may be used for audit purposes
to demonstrate that risk management has taken place.
register should be kept up to date and reviewed regularly. New
risks should be added as they are discovered. The probability
or severity rating of each may be adjusted as the project progresses.
a risk register may provide details of:
probability that a risk will occur
of the risk, that is the impact that it would have if it occurs.
in which mitigating action must be taken in the event of its
of the risk
of the risk to the mission of the organisation
The Risk Treatment Schedule
risk treatment and action plan documents the management controls
to be adopted and should include the following information:
has responsibility for the implementation of the plan;
resources are to be utilised; budget allocation;
for implementation; .
of the mechanism and frequency of review and compliance with
the action plan
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