Risk/Issue Assessment Template
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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