A Risk Register is a Risk Management tool used by the Program Manager (PM) and program personnel that provides a means of recording the identified risks, the Risk Analysis of their severity and the necessary management actions to be taken. It can be a simple document, spreadsheet or computer database system and acts as a central repository for all risks identified by the project.

A Risk Register should include at a minimum:

  • Risk ID
  • Priority (Risk Score)
  • Description
  • Responsibility
  • Probability
  • Consequence (Impact)
  • Timescale
  • Cost
  • Point of Contact
  • Residual Risk
  • Early Warning Signs

Electronic Database
An electronic risk database is useful in allowing you to sort and report on multiple risks. It’s a good tool for capturing analysis and decisions that were made during the course of a program. This information is highly useful as lessons learned.  It also gives the Risk Integrated Product Team a sort of checklist of the data that has to be obtained to manage and mitigate a risk. An electronic risk database is an invaluable tool for any Program Manager (PM) to execute a program successfully.

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Updated: 7/29/2017

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