This template is designed to help you identify and assess risks associated with your projects, processes, or activities. By using this template, you can ensure that potential risks are identified early, assessed, and managed effectively.
Step 1: Identify the Risk
- What is the risk? Describe the risk in clear and concise terms.
- Where does the risk occur? Specify the location, process, or activity where the risk is associated.
- Who is affected? Identify the individuals or groups that may be affected by the risk.
Step 2: Assess the Risk
- Probability of Occurrence: What is the likelihood of the risk occurring? (e.g., low, medium, high)
- Impact: What is the potential impact of the risk? (e.g., minor, moderate, severe)
- Risk Level: Calculate the risk level by multiplying the probability and impact. (e.g., Low probability and minor impact = Low risk)
Step 3: Plan for Risk Mitigation
- Mitigation Strategies: Outline the strategies to reduce the likelihood or impact of the risk.
- Responsibilities: Assign responsibilities to individuals or teams for implementing the mitigation strategies.
- Resources: Identify the resources required for implementing the mitigation strategies.
Step 4: Monitor and Review
- Monitor: Regularly monitor the risk and its mitigation strategies.
- Review: Periodically review the effectiveness of the risk mitigation strategies and make adjustments as necessary.
Risk Management
For more information on risk management, please visit our Risk Management Guide.