Problem with Risk Registers

Risk Management

milad faili sydney, Australia

Hi All,

Can you share examples of how long & difficult it was to develop the risk register for a big project you have previously worked on the difference it would have made if the team was able to develop it more quickly & accurately? How much effort was spend reviewing it throughout the project?

Or is this not a problem?

Thanks

Posted: Aug 30, 2024 7:43 PM

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Kimberly Whitby

PMI Team Member

Online Community Specialist| PMI Newtown Square, Pa, United States

Hello Milad - and thanks for posting your question to our online community. I encourage you to do an advanced search using specific keywords. This will generate a compilation of similar discussion and/or article-related threads. Here are three discussion posts I found that may be of interest:
https://www.projectmanagement.com/discussi...risk-registers-
https://www.projectmanagement.com/discussi...risk-management
https://www.projectmanagement.com/discussi...e-of-thumb-

You can leave a comment at the end for others to see and offer helpful solutions. Alternately, you can search our wide variety of topics located within the ‘Communities’ drop-down at the top of our page and select 'Risk Management’. Here is the direct link for your reference -

https://www.projectmanagement.com/topics/risk-management/

I hope this helps to get you started!

Posted: Sep 3, 2024 10:17 AM (Updated by author: Sep 3, 2024 10:19 AM)

Thomas Walenta Global Project Economy Expert Hackenheim, Germany

Milad,

In one project, it took me 2 hours to create an Excel risk register by incorporating the 20 or so risk characteristics from the PMBoK Guide ed6. The register has three sections: identification, assessment, and response planning.

We (the team) checked it in our weekly status meetings, asking ourselves whether we have new information about existing risks and whether we see emerging risks. The risk owner does the main work on a specific risk. High risks were discussed with the client, and he should also take the roles of risk owner or response owner, if appropriate.

Don't do all the work yourself.

Posted: Sep 3, 2024 11:57 AM

Kiron Bondale Retired | Mentor| Retired Welland, Ontario, Canada

Milad -

Risk is uncertainty that matters. Most of the time, the big challenge is capturing information in a register that matters to the stakeholders who can actually make a difference in improving project outcomes.

Kiron

Posted: Sep 3, 2024 1:08 PM

Keith Novak Tukwila, Wa, United States

It can be very straight forward to set up a risk register or a lot of work. Creating an Excel spreadsheet as Thomas describes may be very simple and effective for your needs.

In other cases for projects above a certain cost threshold, governance mandates may include that risks must be maintained and managed in a designated organization-wide tool which may require a lot of detailed information and get very high level visibility.

I prefer trying to keep it simple. For one reason, if people find it too much burden to keep the register current and accurate, or get too much unwanted "help" that they tend to hide risks hoping that they can avoid both the negative outcome and yet another layer of administrative work.

Posted: Sep 3, 2024 10:57 PM

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Problem with Risk Registers

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