Risk Register
A Risk Register provides a record of identified risks relating to the project, including their status and history. It is used to capture and maintain information on all of the identified threats and opportunities relating to the project.
Derivation:
- The composition, format and presentation of the Risk Register will be derived from the Risk Management Strategy
- Entries are made on the Risk Register once a new risk has been identified
- There may be one or more risksinherent in the project mandate
- New risks may be discovered when creating the Project Brief, designing and appointing the project management team, establishing the project’s controls and developing its plans, when issuing Work Packages, when reviewing Work Package status, or when reviewing stage status
- Daily Log/Issue Register - often issues raised to the Project Manager and captured in the Daily Log or Issue Register are actually risks and only identified as such after further examination.
Creation, update and use
The Risk Register is created in the Initiating a Project process after the Risk Management Strategy is created. The Register is updated usually when a new risk is raised or any existing risks are changed. The Risk Register is usually maintained by the Project Support.
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