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A risk register is a document or system that is used to capture risk management status. They are commonly used to manage strategy, project and operational risks. The following are common elements of a risk register.
Risk IdentifierA numerical identifier for each risk.Risk DescriptionA textual description of each risk. Potentially links to extended risk analysis documentation.Risk TriggerThe trigger conditions that cause the risk to occur. Often omitted.ProbabilityAn assessment of the probability of the risk. Often represented as a percentage or rating scale such as "likely, possible, unlikely".
ImpactImpact if the risk occurs often as a "high, medium, low" rating. Impact may link to detailed analysis such as a cost estimate or impact assessment.ScoreIt is reasonably common to "score" the risk by multiplying probability × impact based on a numerical rating system.OwnershipThe person accountable for the risk.Mitigation Steps that are planned to mitigate the risk. This field can also be termed "treatment" if it is a common practice within your organization to take actions other than mitigation such as accepting, transferring or sharing risk.
Residual RiskA textual description of the risk remaining after treatment including any secondary risks.Accepted ProbabilityThe remaining probability after treatment. This can be termed "accepted probability" to highlight that the owner is asked to accept this level of risk by approving the risk register.Accepted ImpactThe remaining impact after treatment.
ExampleThe following is a basic example of a risk register.
Risks
This is the complete list of articles we have written about risks.
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A list of common project risks.
A list of common project risks.
A list of common project stakeholders.
A list of common business risks.
The difference between a risk and an issue.
The four things that can be done about risk.
The definition of secondary risk with examples.
A definition of risk perception with examples.
The common types of implementation.
A reasonably complete guide to project risk management.
An overview of the risk management process.
An overview of cascading failure and resilience.
An overview of business as usual.
A list of techniques for reducing risk.
The difference between risk mitigation and risk reduction.
A list of common risk controls.
A definition of risk value with example calculation.
The common types of risk impact.
A definition of risk communication with examples.
Overview of the steps in a risk management process.
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