Risk Log Template

A risk log template is an important document which is generally created during the planning stages of the project and records details of all the risks identified during the life of the project. It is a master document that plays a crucial role in any project management plan and helping you to record all issues and address the actions to control each risk. Usually this document is very essential to the success of any project and the document is also referred as a risk register. The record of risk log is usually observed by the project managers as a management tool for monitoring the risk management procedures within the project and generally the document contains the information such as mitigation measures, nature of a risk and reference.

Benefits of Risk Log Template

Generally this document is used to recognize, evaluate as well as control the risks extending to the acceptable stages through a review or by updating the entire procedure. The project managers are responsible to make sure that the risk log is updated when required. Risk log template normally starts from the list of risks that may affect the project capacity to attain its targets and drives the following risk management process such as perform qualitative risk analysis, perform quantitative risk analysis, plan risk response, monitor as well as manage risk.

Generally in the perform qualitative analysis the details are added to the list of risks in the risk log along with the priority of risks, in perform quantitative analysis the risk log template is updated with the potentials associated with each identified risks, in plan risk response the a particular plan is created to manage each risk as well as in the monitor and manage risks the plan are reviewed as well as revalued. The risk log required to update regularly to ensure continuous management of risks, so everyone informed as well as aware of what is happening. The basic purpose of this log is to provide project managers with the list of risks clearly and considered as to their importance to meeting the project goals.

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Risk Log Template

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Risk Log Template

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Risk Log Template

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