Risk Assessment Tool

Your Problem

You need to document risks, assess their impact and probability, and develop risk mitigation plans. It is important to present to your team and its key stakeholders a systematic format to keep track of your company's risk.

Our Solution

We created the Risk Assessment Tool to document risks, assess their consequences and likelihood, and to prioritize your risk mitigation efforts. This tool can be used to help you keep track and identify risk throughout a project's life cycle.

The Risk Assessment Tool works by first providing you with a risk assessment tab, where you will identify the phase in which a project is in. You will then identify the deliverable where there is potential risk, and after classifying this you will determine the risk status. Once you have finished this, you be presented with the risk rating. In this resource you should define for each risk the course of action, expected outcome, and existing mitigation.

For background info, read our Executive Summary: Risk Assessment and Analysis Techniques

Key Benefits

• tracks risks throughout a project's lifecycle
• identifies potential risks to avoid interruption in a project
• allows you mitigate potential risks before problems occur
• save 2 hours on formatting
• easy to use Excel format

Microsoft Excel Spreadsheet

Estimated Time Required: 2 Hours

Skills Required: Excel (Basic)