Project Risk Management Templa
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Project Risk Management is an approach to project management that helps reduce the overall risk of a project b
Risk Management is important because it provides stakeholders with an educated estimate of exactly what a pr
There are seven pieces of information needed in order to determine the overall risk profile of a project:
• Activity Cost Estimates: estimates on each activity in the project, including labor, materials, equipment, serv
• Basis of Estimates: Supporting details, including assumptions made in preparation of the estimates and the
• Scope Baseline: funding constraints put in place by the organization, existing contracts, or government agen
• Project Schedule: this determines the cost over time, such as points along the way when payments are due.
• Resource Calendars: determines which resources are assigned to the project and when they are available.
• Contracts: shows exact costs of products or services related to the project.
• Execution: outlines the specific risk factors involved with executing the project over time.
Create Your own Project Risk Management Template using the format below.
Project Details Risk Ide
Project Name Project Risk Risk Event
Date Item
Short name of the Risk Event: any
Reference uncertain event which has a
Project name Project Date
number possible negative (threat) on a
project.
Project 1
Project 2
Project 3
anagement Template
helps reduce the overall risk of a project by researching all possible costs and major risk factors associated with the successful
an educated estimate of exactly what a project is going to cost and outlines the risk factors that may arise along the way.
he overall risk profile of a project:
ncluding labor, materials, equipment, services, facilities, and information technology.
e in preparation of the estimates and the level confidence the preparer has in each estimate.
on, existing contracts, or government agencies.
ts along the way when payments are due.
the project and when they are available.
e project.
g the project over time.
t below.
Risk Identification
Risk Description Risk Owner Risk Trigger Impact Area
Triggers are indications that a risk
has occurred or is about to occur.
This indicates the severity of the
Brief description Name of owner Used to determine when to
risks on the project's objectives.
implement the Risk Response
Strategy.
ociated with the successful execution of the project, including ensuring it remains within the defined budget. Project
arise along the way.
Quantitative Analysis
Project cost Basis of Estimates Scope Baseline Probability
Estimates
This gives estimates on each This includes supporting details,
This includes funding constraints
activity in the project, including including assumptions made in
labor, materials, equipment, preparation of the estimates and put in place by the organization, Assessment of the likelihood
existing contracts, or government of occurrence.
services, facilities, and information the level of confidence the
technology. preparer has in each estimate. agencies.
$ 100.00 HIGH
$ 200.00 MEDIUM
$ 300.00 LOW
e defined budget. Project
Response Strateg
Severity Priority Strategy to Mitigate
Assessment of the severity Assessment of the priority Define approach or strategy to reduce or mitigate the
of the risk to address this risk risk
LOW RISK LOW
MEDIUM RISK MEDIUM
HIGH RISK HIGH
Response Strategy
Actions to be Taken Status Comments
Develop options and determine actions to This Indicates updated
be taken in response to the risk event. status.
25%
75%
Not Started
Project Risk Management Template
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Project Details
Project Name Project Date Risk Description Risk Event
Risk is any uncertain event
which has a positive
Enter Project Name Enter Project Date
(opportunity) or negative
(threat) on a project.
Project 1 1/1/2019
Project 2 1/2/2019
Project 3 1/3/2019
ent Template
Quantitative Analysis
Project cost
Impact Area Estimates Basis of Estimates Probability
This gives estimates on each This includes supporting
activity in the project, details, including assumptions
This indicates the severity of
including labor, materials, made in preparation of the Assessment of the likelihood
the risks on the project's
equipment, services, estimates and the level of of occurrence.
objectives.
facilities, and information confidence the preparer has in
technology. each estimate.
$ 100.00 HIGH
$ 200.00 MEDIUM
$ 300.00 LOW
e Analysis
Severity Priority Action taken Assigned To
Develop options and determine
actions to be taken in response to
the risk event.
HIGH HIGH No Action Name
MEDIUM MEDIUM Monitor and Report Name
LOW LOW Create Mitigation Plan Name
Take Action to Avoid Name
Monitor and Report
Status Comments
This Indicates updated status.
25%
75%
Not Started
