Risk Log Template

The Risk Log Template is an essential tool for identifying, assessing, and managing risks within a project. It provides a structured format for documenting each risk, its impact, and the probability of occurrence. The template categorises risks by assigning low (L), medium (M), or high (H) ratings for both impact and probability, enabling project managers to quantify risk exposure effectively.

Each entry in the Risk Log includes a detailed risk description, the assessed impact and probability, and the overall risk exposure. It also specifies the actions required to mitigate or manage the risk, as well as assigning a risk owner responsible for implementing these actions. This comprehensive approach ensures that all potential risks are systematically tracked and managed, reducing the likelihood of unforeseen issues derailing the project.