Risk Register Workbook Instructions   This template is to be used for identifying risks and creating plans for how to avoid them (negative risks) or how to make them happen (positive risks) and what to do if they happen (contingency plans) and managing them throughout the project

Risk Register Workbook Instructions

This template is to be used for identifying risks and creating plans for how to avoid them (negative risks) or how to make them happen (positive risks) and what to do if they happen (contingency plans) and managing them throughout the project.

The first sheet, titled Risk Register, shows a number of fields to use for gathering the following information about risks.

Risk ID is some unique value that identifies the risk.

Risk Name is a short description of the risk.

Risk Description "If this risk occurs, then what impact will it have on the project?" It should be written as an "If, then" statement.

Impact as rated on a very low, low, medium, high, and very high scale.

Probability as rated on a very low, low, medium, high, and very high scale.

Risk Ranking: Using the risk matrix found on the right on the Risk Register sheet, detemine the color code (risk ranking) for each risk. 

Positive/Negative: Is this risk a positive risk (an opportunity) or a negative risk?

Proactive Response Plan is a detailed plan of what changes will be made to the project, project scope, and/or WBS proactively to try to make the risk happen (positive risk) or stop it if it is a negative risk.

Trigger Event is a description of how you will know if the risk has occurred or is about to occur.

Reactive Contingency Plan is the description of what you plan to do if the risk happens. How will you react to the risk once it occurred?