PROJECT NAME: Risk Log

This log is used to record and track project risks. Risks are things that may or may not happen in the future that could have an effect on a project's success. This log includes all risks identified over the life of the project, including those that have passed and are no longer a threat to the project, those that have been prevented or mitigated, and
those that have become issues. Do not delete risk information from this log: it is a permanent record of project risks.

1. BASIC RISK INFORMATION

Risk Number

Risk Description / Risk Event

Statement

Provide a unique A risk description should have these two

identifier for risk elements (i) the occurance of an event in
future and (ii) its impact on our
objectives. E.g. "Weather" is not a risk
event statement. "Bad weather may delay
the project" is a risk event statement.

Key Risk Indicator

Risk Owner
Name and title of
team member who
is a Risk Owner

2. RISK ASSESSMENT (GROSS)

Date Reported Last Update
day-month-year day-month-year

Impact description including root

cause

Enter the date Enter the date List the specific impact the risk could
the risk was first the risk was have on the project schedule, budget,
reported
last updated scope, and quality. Other impacts can
also be listed

Impact (A2)

Probability description including % of

likelihood

3. RISK RESPONSE INFORMATION/MITIGATION

Probability/ Likelihood
(B2)

GROSS Risk Current status of actions Score (A2 X

(to reduce
B2)
probability/impact)

Actions required to
reduce impact

Impact reduction rating

(A3)

Actions required to reduce

Probability/Likelihood

Probability reduction
rating (B3)

List, by date, all actions

taken to respond to the risk.
This does not include
assessing the risk

Example
R1

Project cost overrun due to input material

price increase.

Materials
Acquisitions
Manager

1-Dec-2013

12-Jan-2014 The cost of the concrete could be as

much as 50% more expensive than
budgeted for, resulting in an overall cost
overrun of 15% on the project

10-Jan-2014: Asked concrete

supplier to guarantee a price;
request denied

Example R 2

Key supplier may lose a pending lawsuit

and go out of business, creating the need
to find a new supplier, which will cause
schedule delays

Project Manager

1-Dec-2013

12-Jan-2014 Finding a new supplier, negotiating

contract, and getting re-started is
estimated to cause a 6-month delay

12

12-Jan-2014: Met with

supplier to discuss options
15-Jan-2014: Spoke with
other suppliers regarding
availability
20-Jan-2014: Prepared
contingency plan and RFP in
case supplier goes bankrupt
25-March-2014: Moved risk
to issue process -- supplier
lost lawsuit and declared
bankruptcy

10

R2

R3

12

R4

15

R5

R6

20

R1

Worker face was hitduring lifting of

material at Tamnar

27-Dec-2013

Worker from Contractor Thyssen Krupp

was hit.

R7
R8
R9
R 10
R 11
R 12
R 13
R 14
R 15
R 16
R 17
R 18
R 19
R 20

LIKELIHOOD (proposed definition)

SCORE

DESCRIPTION

RARE

Highly unlikely to occur in next 2 years. No history of adverse event in

organisation.

UNLIKELY

Event not likely to occur in next 12 months, but there is a slight possibility of
occurrence.

POSSIBLE

50/50 chance of the event occurring within the next year. Event is equally likely
to occur as not.

4
5

LIKELY
ALMOST CERTAIN

There is a strong likelihood that the event will occur at least once in the next 612 months. History of event/s in institution or similar organisations.
The adverse event will definitely occur, probably multiple times in a year.

Impact analysis
Level

Quantitative (Impact on profitability

Qualitative scale

< Rs 50 lacs

No impact on market share. No impact on reputation.

Rs 50 lacs to Rs 2 Crores

Consequence can be absorbed under normal operating conditions.

Potential impact on market share. Potential impact on reputation.

Rs 2 crores to Rs 5 crores

There is some impact on market share and reputation.

Rs 5 crores to Rs 10 crores

Above Rs 10 crores

Market share and reputation will be affected in the short term.

Serious diminution in reputation. Sustained loss of market share.

Risk Consequence
Risk Score

Escalation

18 to 25

Immediate escalation of risk to senior management for prioritised risk and treatment plan
response. Weekly reviews of progress by senior management to be undertaken

9 to 18

Escalation of risk to line management for discussion on appropriate treatment plan response.
Monthly monitoring of risk and progress of risk response or treatment plans to be undertaken as
part of existing local meetings.

1 to 9

Bi-monthly monitoring of risk and progress of risk response or treatment plans to be undertaken
as part of existing local meetings. No immediate need to develop further treatment plans or
response strategies.

L
I
K
E
L
Y
H
O
O
D

Almost Certain

Likely

Possible

Unlikely

Rare

1
Insignificant

Minor

3
Moderate
IMPACT

MPACT

25

16

24

4
Major

5
Catastrophic

Sum - Probability/ Likelihood ( Probability description including % of likelihood

Impact (A2)
(empty)
Total Result
5
2 2
4
8 8
3
12
###
2
10
###
Total Result
32
###