RISK MITIGATION REPORT
PROJECT DETAILS
PROJECT No: MA-015-02
DATE:
FULL PROJECT NAME: Project Orion
PROJECT MANAGER: A Smith
PROJECT SPONSOR: F Dole
RISK MITIGATION REPORT
Risk ID:
Risk Description:
Status:
Impact
Probability Score Mitigating actions:
Scope Quality Schedule Cost
High High High Medium High High
Revised Revised Impact once mitigating actions have been completed
Probability Revised Score Responsible Party
Scope Quality Schedule Cost
Low Medium Low Low Low Low
Secondary
Risks:
Residual Risk:
Contingency
Contingency Funds:
Plan: Contingency
Time:
Next actions
and notes:
RISK MITIGATION REPORT
Mitigating actions:
Responsible Party Actions
Contingency
Funds:
Contingency
Time:
EXAMPLE RISK MITIGATION REPORT [delete this sheet when no longer needed]
Risk ID: R0021 Project design and deliverable definition is incomplete.
Risk Description:
Status: New See more Common Project Risks @ https://www.stakeholdermap.com/risk/register-common-project-risks.htm
Impact
Probability Score Mitigating actions:
Scope Quality Schedule Cost
High chance of budget
High chance of quality issues if High chance of delays due to Define the scope in detail via design w
High High chance of scope creep. overruns due to delays and Critical
purpose is not well-defined. scope creep. experts.
scope creep.
Revised Revised Impact once mitigating actions have been completed
Revised Score Responsible Party
Probability Scope Quality Schedule Cost
Low Low Low Low Low Low P Manager
Secondary There are still risks associated with the assumptions that were made during the design phase. In other words, if some assumptions are not correct then the project could be impacted.
Risks:
Residual Risk: There is a risk that the design will change (scope creep). This risk can be managed through change control.
Contingency
Contingency Funds:
If there are some parts of the design that are not complete or detailed enough the project manager will write an Exception Report describing the issue and
Plan: recommending next steps. For example, moving the incomplete deliverable definitions to a later phase.
Contingency
Time:
Next actions 1. PM to check the assumptions in the design document, and recommend next steps.
and notes:
ON REPORT [delete this sheet when no longer needed]
d deliverable definition is incomplete.
mmon Project Risks @ https://www.stakeholdermap.com/risk/register-common-project-risks.html
Mitigating actions:
Define the scope in detail via design workshops with input from subject matter
experts.
Responsible Party Actions
Check the validity of the assumptions made in the
P Manager
design documents.
esign phase. In other words, if some assumptions are not correct then the project could be impacted.
through change control.
Contingency None. The Exception Report will include estimated costs
Funds: to resolve the issue.
Est. 4 days to write the Exception Report and get a
Contingency decision from the project board.
Time:
eps.
RISK MITIGATION REPORT
Risk ID:
Risk Description:
Status:
Impact
Probability Score Mitigating actions:
Scope Quality Schedule Cost
High High High Medium High High
Revised Revised Impact once mitigating actions have been completed
Probability Revised Score Responsible Party
Scope Quality Schedule Cost
Low Medium Low Low Low Low
Secondary
Risks:
Residual Risk:
Contingency
Contingency Funds:
Plan: Contingency
Time:
Next actions
and notes:
RISK MITIGATION REPORT
Mitigating actions:
Responsible Party Actions
Contingency
Funds:
Contingency
Time:
20 Common Project Risks and how to manage them
Top 50 Business Risks
Checklist of 30 Construction risks
Risk Register Template
Risk Management Plan Template
Risk Assessment Matrix 4 by 4 example
Risk Assessment Matrix 3 by 3 example
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