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 m managing them throughout the project. The first sheet, titled Risk Register, shows a number of fields to use for gathering the following information about ris 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, 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 r 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 WB 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 th Form P-4 Project Manager: Name (816) XXX-XXXX Form P-4 Project Manager: Name (816) XXX-XXXX Risk Register I D Risk Name Risk Description Impact VH,H,M,L,VL Probability VH,H,M,L,VL Risk Ranking What is the risk color code ? Positive/Negative Proactive Response Plan Is this a positive or negative What proactively can be attempted to risk from the risk matrix? make the risk happen or prevent it? 1 Acts of Nature If critical pieces of equipment do not arrive on time, the project will fall behind schedule. 2 Design is infeasible The design for the playground is too large/expensive/conv oluted Research similar successful projects. Compare size and costs on related projects. 3 Regulation and Policies Design or materials of the playground could be outside the allowed specifications of the local/state/national regulations Research county and city regulations along with any fedral and state regulations or policies that may affect the project. 4 Design fails peer review The design for the playground fails to get approval of the other lead members. Involve al lead members in design decisions to get feedback and approval. Scope is ill defined The scope of the playground isn't specific enough to give accurate predictions Work with managers to ensure scope is well defined in the beginning stages of the project. Scope creep inflates scope Expected need creates too much in the requirements for the playground project to handle. Establish realistic needs for the project when creating the scope in the early stages of the project. Delays to required infrastructure Unexpected events cause delays to the construction. Expect delays. Place orders early in the project and have project plans that can be worked on to get ahead in other areas. Form P-4 H H Red Project Manager: Name (816) XXX-XXXX Negative Acts of nature are not always planned but you can have plans for parts of the project that can be worked through while waiting on nature to take its course. I D Risk Name Risk Description Impact Probability Risk Ranking Positive/Negative Proactive Response Plan Estimates are inaccurate Inaccurate estimates cause the end result to be too big/expensive/compli cated Research companies that are proviing estimates for a reputable company. Get all estimates and contingencies in writing. Dependencies are inaccurate The material or supporters backing the project have inaccurate expectations Provide clear information in the beginning and all throughout the project on expectations. Activities are missing from scope Required activities needed for the expedient completion of the project are missing from the scope. Get all leaders involved in development of the scope in the beginning to ensure accuracy. Cost forecasts are inaccurate Projected costs for the project are far too high Early in the project stages research similar projects to get accurate cost forecasts. Allow a margin of error for unexpected costs. Exchange rate variability The costs of the project failed to take into account Building in a margin of error will help take in the extra costs that come into your project. The management is changing too Change management overload frequently to cause suitable stability. Carefully assemble your team for your project in the beginning of the project. Assess each member and their unique abilities and place them in the areas where they will prove to be the best asset. The management is Lack of a change management too rigid and system inflexible and needs to be changed. Take into account the work load and expertise areas of each leader to make sure they are being used to the best of their abilities. Form P-4 Project Manager: Name (816) XXX-XXXX I D Risk Name Risk Description Impact Probability Risk Ranking Positive/Negative Proactive Response Plan Project team misunderstand requirements Poor communication between the managers and the teams caused misunderstandings in the scope and requirements. Make communication clear and continuous throught the entire project. Under communication Poor communication causes too many unforeseeable delays. Weekly meetings with updates from all management departments. Resource shortfalls Amount of projected resources not sufficient to cover project needs. Address the project needs to determine options if resources are short. Training isn't available Required training for machinery or regulations causes delays and possible moratorium Hire experienced and trained employees upfront and have backk up companies available. Team members with negative attitudes towards the project Team members lack of morale causes unforeseeable delays and obstacles. Work together with the team to build morale and excitement on the project. Addres issues as they arise. Low team motivation Poor overall morale slows work to unacceptable rates causing delays. Continuously give positive motivation and feedback to the project team. Lack of commitment from functional managers Unprofessional work ethic of project managers causes delays. Address issues with team leaders when they come up to correct problems and behaviors. Architecture lacks flexibility Materials or plans for playground not sufficiently suitable for chosen area. Research the building site prior to project start and carefully evaluate the equipment for the project for the building site. Form P-4 Project Manager: Name (816) XXX-XXXX I D Risk Name Risk Description Impact Probability Risk Ranking Positive/Negative Proactive Response Plan Project Management Project managers micromanagement is causing low morale and workplace delays. Team work is key to project management. Overseeing and trusting in your teams abilities is crucial. Mega Projects Playground is too big and too confusing for the skills and abilities of the teams. Chose the team carefulling for the project. Look for experience in large projects and expertise in their areas. Accounting The money handling of the project required too much money. Creating a strong budget upfront with accuracy with marin of error. Investment Banking Needless expense with banking is causing problems in the funding of the project. Make sure all financial aspects of the project are securely in place before beginning the project. Marketing Due to marketing problems, the projected groups destined to use the playground have an inaccurate idea of what to expect. Research the best marketing teshniques for the particular project to make sure the best marketing is used that is affective. Career Expected success in the project is causing premature promotions and therefore causing a lack of qualified personnel. Overall success of the project to be determined after completion of the project so premature promotions are not taking place. Program Management Project managers are not consistent with their involvement and are becoming unreliable. Lead project manager must stay involved throughout the complete project to hold leaders accountable and to stay consistant. Form P-4 Project Manager: Name (816) XXX-XXXX I D Risk Name Risk Description Impact Probability Risk Ranking Positive/Negative Proactive Response Plan Sustainability Over estimations in expected materials caused a surplus of construction materials. Find alternatives to use the materials for or make sure that the surpluses can be returned. Non-Sustainability Underestimation of expected materials caused a deficit of construction materials. Research bids and materials costs of previous projects. Make sure a margin of error is in the budget. Exploiting a risk Project managers trying to take advantage of a positive risk over did it and caused problems. Bring all team members together to assess the issue and formulate a plan to succeed. Share a Risk Too spread out, a risk caused shortfalls or over abundances of material/finances/ma npower Pre-planning is the key to aviod this issue. Which is also another reason why it is important to build cushion in the project for unexpected situations. Enhance a Risk Trying to avoid a risk caused the project to hit an even bigger and possibly unforeseen one. Immediately meet with all team leaders to come up with a plan of action. Accept a Risk Assuming a risk will happen has caused problems to occur that otherwise may have been avoided. Keep focused on the outcome of the project. Be aware of the risks but stay focused on the goal. Ahead fo Schduale Completion happened too fast and other parties involved are not prepared enough. Take the extra time to examine completed parts of the project to ensure accuracy before moving forward to other parts. Form P-4 Project Manager: Name (816) XXX-XXXX I D Risk Name Good Communcation Risk Description Impact Probability Risk Ranking Requirements of communication up and down are too open, causing needto-know knowledge to become known. Positive/Negative Proactive Response Plan Open and constant communication in the project between all team leaders. Support from corporate higher-ups have caused Executives support the project perception of the project to become skewed. Keep the project and goal in focus. As team manager keep your team focused on the project and the goal. High team motivation The team is too motivated while working and are taking unnecessary risks. Work to keep the team motivated and realistic at the same time. Keeping them on track for the project. Cost forecasts are accurate Cost forecasts are too accurate, not allowing finances for possible additions to the project not thought of at inception. Adjust cost forecassts in the beginning with a margin of error over the budget. Accurate change in priorities Changes in priorities on the management level that were possibly necessary are causing unforeseen problems down the line. Use the project plan established at the start of the project to keep the team and project on track. Community stakeholders are becoming too handsStakeholders become engaged on with the project and are causing delays at the construction site. Establish at the beginning of the project the importance of letting the project management team do their job. Possibly have meeting at scheduled intervals. Form P-4 Project Manager: Name (816) XXX-XXXX I D Risk Name Risk Description Impact Probability Risk Ranking Positive/Negative Proactive Response Plan Stakeholders support the project Stakeholder support for the project is so vocal that it appears we have more support than we already do. All support for the project is a good thing. Stakeholders can bring about more support if guided in the right direction. Meet with them and discuss the ways that they can contribute most effectively. Process inputs are high quality Process inputs are such a high quality that it is taking longer than expected to work through them. Put together a team to sift through the inputs and prioritize them so that you focus on the most import thing first. Resource are accurate Resource forecasts are too accurate, not allowing finances for possible additions to the project not thought of at inception. This again is where a margin of error or cushion in resources and budget will solve this issue. Training is available Training for machinery or programs is causing delays in the schedule. Have any need traiing out of the way before the project starts or hire employees and contractors that are already experienced and do not nee extra training. Design is fit for purpose Designs are 100% fit for the purpose of its original plan but due to unforeseen events the end-result of original plan changed and designs are too rigid and inflexible. Before the start of the project the design of the project must be carefully taken into consideration. Examine similar projects to see their success. Take all factors into account when designing. Form P-4 Project Manager: Name (816) XXX-XXXX Trigger Event Reactive Contingency Plan What do you think will trigger the event? What are your backup plans if the risk should occur? Parts do not ship on assigned date. If possible, have a backup supplier identified and standing by. Very high High Medium Impact Form P-4 Low Project Manager: Name (816) XXX-XXXX Trigger Event Reactive Contingency Plan Very low Very low Low Probability Form P-4 Project Manager: Name (816) XXX-XXXX Medium High Very high Trigger Event Reactive Contingency Plan Risk Matrix Form P-4 Project Manager: Name (816) XXX-XXXX Trigger Event Reactive Contingency Plan Form P-4 Project Manager: Name (816) XXX-XXXX Trigger Event Reactive Contingency Plan Form P-4 Project Manager: Name (816) XXX-XXXX Trigger Event Reactive Contingency Plan Form P-4 Project Manager: Name (816) XXX-XXXX Trigger Event Reactive Contingency Plan Form P-4 Project Manager: Name (816) XXX-XXXX