Risk Registerhelps you to track all risks within your project or business.
Using the Risk Register, you can identify, track and mitigate risks from occurring.
The Risk Register provides a key tool for Risk Management, as it holds all of the information relating to risks within your business. It also gives you a clear view of the current status of each risk, at any point in time.
The Risk Register will help you to record the following information:
- Type of risk, who raised it and how it could affect your business
- Likelihood of the risk occurring and its potential impact
- Risk Priority, based on its affect on the business
- Actions taken to prevent the risk from happening
- Contingency actions taken in case it does eventuate
You can also use this Risk Register to:
- Monitor and control all risks effectively
- Identify the actions needed to manage and mitigate risks
- Report the overall risk status at any point in time
Using the Risk Register, you can identify all of the risks to your project or team, and then create a plan of action to reduce the likelihood of them occurring. This makes Risk Management easy.