Project Management

Risk/Issue Assessment Template

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Format: Log / Evaluation Form / Evaluation Assessment

Every project contains some level and amount of risk. To manage and mitigate project risks, it is important to have a risk management plan as a key artifact in the project toolbox. Unlike issues, risks are not yet directly impacting the project and may be mitigated and prevented from turning into an issue. Should a risk turn into an issue, it will be more time consuming and costly to recover from than the original risk, had it been mitigated. 

A risk management plan may be used when the project:

  • Results in a new process, product or service
  • Impacts safety, quality or customer service
  • Is large, complex and costly

Benefits of a risk management plan include:

  • Increase focus and attention on risks
  • Proactive approach for preventing risks from becoming issues
  • Provide a consistent approach for analyzing, prioritizing, communicating and managing risks
  • Provide an approach to efficiently and effectively mitigate risks
  • Save cost and time by identifying, prioritizing, and managing risks

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