Risk Log for <<project name>>
PROJECT DETAILS
Project/Programme Name
Project Sponsor
Project/Programme Manager
Start Date
Completion Date
DOCUMENT DETAILS
Version
Status
Date
Author/Editor
Details of Change
Risk Log <<project name>> [RL v4]
Page 1
RISK LOG
A full risk log will be maintained throughout the project.
Key to colour coding:
Low risk
Risk Scores (see end of document for full descriptions)
Critical Success Factors (CSF)
Medium risk
Impact
a
Student experience
High risk
Likelihood
Insignificant
1
1
Very Low
b
Securing and diversifying income
Risk not live
2
Minor
2
Low
c
Employee engagement
Risk closed
3
Moderate
3
Medium
d
Capital programmes
Positive risk
4
Serious
4
High
e
Brand, image and reputation
5
Very serious
5
Very High
Likelihood
Movement
Ref
Description
Impact
Mitigation
R01

R02

R03

R04

R05

CSF
Owner
Status
Risk Log <<project name>> [RL v4]
Action taken
Page 2
INITIAL RISK MATRIX:
Only negative risk is shown
5
Impact
4
3
2
1
1
2
3
4
5
Likelihood
Risks in the red zone need frequent monitoring and should be actively managed and reported to the Project Board
Risk Log <<project name>> [RL v4]
Page 3
RISK CATEGORIES ARE:
IMPACT
Severity
 Possible consequences
Description
1 - Insignificant
Negative outcomes from risks or lost opportunities that might have some effect on a
small part of the project
 Won’t affect the outcome of the project
2 - Minor
Negative outcomes from risks or lost opportunities that are unlikely to have a significant
effect on the project
3 – Moderate
Negative outcomes from risks or lost opportunities that will have a significant impact on
the project but can be managed
4 - Serious
Negative outcomes from risks or lost opportunities with a significant effect that will
require major effort to manage and resolve but do not actually threaten the project’s
overall viability
5 – Very serious
Negative outcomes from risks or lost opportunities which if not resolved will result in the
failure of the project
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Less than 1% overspend
No regulatory consequence
Minor adverse publicity
Less than 5% over schedule
Between 1 and 5% overspend
Limited regulatory consequence
Local adverse publicity
Between 5% and 15% over schedule
Between 6% and 25% overspend
Significant regulatory consequence
Negative headlines in the national press
Between 16% and 50% over schedule
26% or more overspend
Substantial regulatory consequence
Sustained negative headlines in the national press
Failure of major part of business
More than 50% over schedule
Risk Log <<project name>> [RL v4]
Page 4
LIKELIHOOD
Descriptor
Likelihood
1 – Very low
It probably won’t happen during the life of the project
2 – Low
it might just happen during the life of the project
3 – Medium
it could well happen during the life of the project
4 – High
it’s fairly likely to happen during the life of the project
5 – Very high
it’s almost certain to happen during the life of the project
CSF (CRITICAL SUCCESS FACTORS)
Code
CSF
a
Student experience
b
Securing and diversifying income
c
Employee engagement
d
Capital programmes
e
Brand, image and reputation
MOVEMENT
This is the difference between the initial risk weighting and the current risk weighting. For example if a risk is initially scored at Minor/Medium, its weighting is 2x3 =6.
If the current risk scores have changed to Minor/Low, then the new weighting is 2x2 = 4, so the movement is 6-4 = 2. (Thus a negative number shows an increased
level of risk). The movement weighting should be recalculated each time the risk log is updated.
Risk Log <<project name>> [RL v4]
Page 5