Creating a Risk Register

The only output of risk identification is the project's risk register. The risk register is a component of the project plan that contains all of the information related to the risk management activities. It's updated as risk management activities are conducted to reflect the status, progress, and nature of the project risks. The risk register includes the following:

• Risks Of course, the most obvious output of risk identification is the risk that has been successfully identified. Recall that a risk is an uncertain event or condition that could potentially have a positive or negative effect on the project's success.

• Potential responses During the initial risk identification process, there may be solutions and responses to identified risks. This is fine, as long as the responses are documented here. Along with the risk responses, the identification of risk triggers may also occur. Triggers are warning signs or symptoms that a risk has occurred or is about to occur. For example, should a vendor fail to complete her portion of the project as scheduled, the project completion may be delayed.

• The root causes of risk Risk identification can identify why risk conditions exist.

• Updated risk categories Risk identification may prompt the project team to identify new categories of risks. These new categories should be documented in the risk register, and if a risk breakdown structure is utilized, it will need to be updated as well.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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