Risk Register Example

When it comes to project management, understanding risk 8. knowing how to minimize its impacts (or take full
advantage of its opportunities) on your project are essential for success. The Risk Register is important to the
management of risk. As risks are identified they should be logged on the register 81 actions should be taken to respond
to the risk.

Risk Managers always try to reduce the likelihood of the risk occurring or the impact if the risk does occur. These
responses are documented on the Risk Register 8. the register should always be reviewed to monitor progress. the Risk
Register must be reviewed in every project team meeting. lt should certainly be a review at the end of each phase of
the project lifecycle. Risk management should be a constant ongoing process with the project team raising risks with
the Risk Manager or Project Manager who then logs the risk and identifies actions that can be taken to mitigate the
risk. To respond properly to a risk the Risk Manager may need to bring in experts to understand the actions that can be
taken to reduce the likelihood ofthe risk appearing or the impact if the risk does occur.