Running head; RISK REGISTER
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RISK REGISTER
Name
Affiliate institution
Date
RISK REGISTER
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Risk register for a construction project
Risk
index
Risk description Current level of risk
Action to be taken
likelihood magnitude Over
rating
Medium
high
high
1
The purpose of
the project is
not clearly
defined
-Completing the project
business case if it’s not
provided and ensure
complete description of the
project.
-Discuss upcoming events on
weekly basis to keep
everyone updated.(Kuchta &
Ptaszyńska, 2017)
2
Lack of control
over the
priorities of
employees.
Medium
medium
medium
-The backup of every human
resource participating in the
project should be
identified.(Kuchta &
Ptaszyńska, 2017)
3
Contractor or
consultant
delays
Medium
high
high
-The contract should entail
late penalties
The project schedule should
be communicated early to
avoid miscommunications.
-Regular check in with the
suppliers to find out any
inconveniencies (Kuchta &
Ptaszyńska, 2017)
4
Estimation and
scheduling
errors
Medium
high
high
-Review schedules daily to
identify delays early
-Allocate a contingency
amount in case of cost
estimation errors. (Kuchta &
Ptaszyńska, 2017)
RISK REGISTER
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Risk register
A risk register is essential for every project because it analyses the possible risks and ways of
mitigating the risks. Construction projects can be complicated because specific procedures and
steps must be followed to achieve the standard quality. An unclear definition of the project
course is a high risk to the project quality and expectations. Considering the current risk level,
the likelihood of the risk is medium with a high magnitude and has a high overrating (Kuchta &
Ptaszyńska, 2017)
According to (Kuchta & Ptaszyńska, 2017), Lack of control over employees' priorities is another
risk that may involve employees backing out of jobs. The current level of the risk shows a
medium magnitude, the likelihood is medium and a medium overrating. To mitigate the risk, the
backup of every human resource participating in the project should be identified because without
enough employees, and it will be difficult to work within the laid down schedule.
The contractor's current level of the risk of delays has a medium likelihood, a high magnitude,
and a high overrating. Delays by the contract can lead to the prolonged time of the project and
resources. To mitigate the risk, the project plan should state late penalties. (Kuchta &
Ptaszyńska, 2017)
Lastly, there is the risk of estimation or scheduling errors in construction projects. The current
risk levels have a medium likelihood of occurrence, a high magnitude, and high overrating
mitigation by allocating contingency amounts to cater to cost estimation errors. Schedules can
get reviewed regularly to identify delays in the project early (Kuchta & Ptaszyńska, 2017).
RISK REGISTER
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References
Kuchta, D., & Ptaszyńska, E. (2017, July). Fuzzy based risk register for construction project risk
assessment. In AIP Conference Proceedings (Vol. 1863, No. 1, p. 230006). AIP
Publishing LLC.