Project Risk
Assessment Template

Assemble the team.

Identify the project to be analyzed.

Use map to brainstorm and make sure all risks are listed.

Gather and review relevant project information.

Review the risk checklist and mark all relevant risks for this project.

Example: Check each applicable risk

Subtopic

Add additional risks as identified.

Evaluate and assess each risk identified for the project.

Copy the 'risk assessment' map part into each identified risk on the checklist.

You can also drag and drop the map part into the map from the Map Parts tab and then within the corresponding folder.

Prioritize and assign corrective actions with map markers.

Example

Difficulty maintaining current work load and company operations during project

Risk:

Detailed description:

Impact:

Explanation

Severity:

Explanation

Probability:

Explanation

Likelihood of Prior Detection

Explanation

Mitigation Approach

Tolerate

Treat

Terminate

Transfer

Approach Description:

Explanation

Perform corrective actions and re-evaluate risk.

Distribute, review and update the analysis, as appropriate.

Facilitator

John Stevenson

Team

Sara Cunningham

Robert Wagner

Name

Enter Project Name

Description

Enter Project Description

Key Stakeholders

List Key Stakeholders

Project Manager

List Name

Project Folder

All Files
and Folders

Risk Assessment.docx

Internal

Difficulty maintaining current work load and company operations during project

Risk Assessment

Detailed description:

Explanation

Impact:

Explanation

Severity:

Explanation

Probability:

Explanation

Likelihood of Prior Detection

Explanation

Mitigation Approach

Tolerate

Treat

Terminate

Transfer

Proposed
solutions:

Explanation

Effective reporting system in place

Timely review performed by internal auditors to ensure project timeframe is met

Clear segregation of duties

Lack of communication between team leaders and contractors

External

Contractors

Higher level of complexity involved in requirements, design, testing, etc. than anticipated

Chance of incompatible standards, processes, technology

Legal

Legal concerns may delay contracts and the project

Delay in approval by legal team could slow project

Regulatory

Hard to document the requirements properly

Possibility that the resulting solution will not meet standards

Lack of secure backup system

Organizational

Scope

Difficult to determine estimates

Might over reach our steps

Difficult to write project definition and work plan

Hard to establish scope-change procedures

Project deliverables are poorly defined

Schedule

Given schedule timeframe may be impossible to accommodate required activities

Most likely the schedule requirements will be impossible to meet

Hurried activity and schedule pressures are likely to cause errors in work

Budget

Budget will most likely not be accurate

Budget will not be structured in manner to facilitate tracking and control

There will be unrealistic expectations for what can be accomplished within the budget

Human Resources

Experience levels will be too low for the nature of the project

Training requirements will require more time than anticipated

Management

Organizational uncertainty can cause fear amongst the team

Employees may not focus on project if they have organizational concerns

Employees may fear loss of jobs in a new system

Employees may not use the system if they are unhappy with the organizational change

Uncertainty may cause decisions to be delayed

Project may get out of control as the internal processes become more complex and harder to manage

Senior Support

Project may not get the resources it needs

Project may not have the long-term commitment needed

Political battles may delay the project

Issues and change requests may not be resolved in a timely manner

Other Business or Company Issues

Number of departments involved will grow throughout project

Changes that will occur when project is complete

Technical

May be difficult to understand the requirements and the implications of design decisions

Integration issues between old and new technology

May be difficulty testing the complex technology

The more complex the technology, the greater the risk that problems will occur

Problems with incompatible technologies may not be uncovered until integration or system testing

Longer learning curve for some project team members

Detailed description:

Explanation

Impact:

Explanation

Severity:

Explanation

Probability:

Explanation

Likelihood of Prior Detection

Explanation

Mitigation Approach

Tolerate

Treat

Terminate

Transfer

Proposed Solutions:

Explanation