Project Risk Assessment Template
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1 Steps to Perform Analysis
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1.1 Assemble the team.
1.2 Identify the project to be analyzed.
1.2.1 Use map to brainstorm and make sure all risks are listed.
1.3 Gather and review relevant project information.
1.4 Review the risk checklist and mark all relevant risks for this project.
1.4.1 Example: Check each applicable risk
1.4.1.1
1.5 Add additional risks as identified.
1.6 Evaluate and assess each risk identified for the project.
1.6.1 Copy the 'risk assessment' map part into each identified risk on the checklist.
1.6.1.1 You can also drag and drop the map part into the map from the Map Parts tab and then within the corresponding folder.
1.6.2 Prioritize and assign corrective actions with map markers.
1.6.3 Example
1.6.3.1 Difficulty maintaining current work load and company operations during project
1.6.3.1.1 Risk:
1.6.3.1.1.1 Detailed description:
1.6.3.1.1.2 Impact:
1.6.3.1.1.2.1 Explanation
1.6.3.1.1.3 Severity:
1.6.3.1.1.3.1 Explanation
1.6.3.1.1.4 Probability:
1.6.3.1.1.4.1 Explanation
1.6.3.1.1.5 Likelihood of Prior Detection
1.6.3.1.1.5.1 Explanation
1.6.3.1.1.6 Mitigation Approach
1.6.3.1.1.6.1 Tolerate
1.6.3.1.1.6.2 Treat
1.6.3.1.1.6.3 Terminate
1.6.3.1.1.6.4 Transfer
1.6.3.1.1.7 Approach Description:
1.6.3.1.1.7.1 Explanation
1.7 Perform corrective actions and re-evaluate risk.
1.8 Distribute, review and update the analysis, as appropriate.
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2 Risk Team
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2.1 Facilitator
2.1.1 John Stevenson
2.2 Team
2.2.1 Sara Cunningham
2.2.2 Robert Wagner
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3 Project
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3.1 Name
3.1.1 Enter Project Name
3.2 Description
3.2.1 Enter Project Description
3.3 Key Stakeholders
3.3.1 List Key Stakeholders
3.4 Project Manager
3.4.1 List Name
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4 Background Information
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4.1 Project Folder
4.1.1 All Files
and Folders
ein test 4.1.1.1 Risk Assessment.docx
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5 Checklist
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5.1 Internal
Risks that can be controlled by the company
internally.
5.1.1 Difficulty maintaining current work load and company operations during project
5.1.1.1 Risk Assessment
For each risk identified, perform the following
analysis within this topic. Use this map part,
attached it to each category item on the checklist
that has a check, or a risk.
5.1.1.1.1 Detailed description:
5.1.1.1.1.1 Explanation
5.1.1.1.2 Impact:
5.1.1.1.2.1 Explanation
5.1.1.1.3 Severity:
5.1.1.1.3.1 Explanation
5.1.1.1.4 Probability:
5.1.1.1.4.1 Explanation
5.1.1.1.5 Likelihood of Prior Detection
5.1.1.1.5.1 Explanation
5.1.1.1.6 Mitigation Approach
5.1.1.1.6.1 Tolerate
5.1.1.1.6.2 Treat
5.1.1.1.6.3 Terminate
5.1.1.1.6.4 Transfer
5.1.1.1.7 Proposed
solutions:
5.1.1.1.7.1 Explanation
5.1.2 Effective reporting system in place
5.1.3 Timely review performed by internal auditors to ensure project timeframe is met
5.1.4 Clear segregation of duties
5.1.5 Lack of communication between team leaders and contractors
5.2 External
Risks that are beyond the control of both the project and
organization
5.2.1 Contractors
5.2.1.1 Higher level of complexity involved in requirements, design, testing, etc. than anticipated
5.2.1.2 Chance of incompatible standards, processes, technology
5.2.2 Legal
5.2.2.1 Legal concerns may delay contracts and the project
5.2.2.2 Delay in approval by legal team could slow project
5.2.3 Regulatory
5.2.3.1 Hard to document the requirements properly
5.2.3.2 Possibility that the resulting solution will not meet standards
5.2.3.3 Lack of secure backup system
5.3 Organizational
Risked within your organization.
5.3.1 Scope
5.3.1.1 Difficult to determine estimates
5.3.1.2 Might over reach our steps
5.3.1.3 Difficult to write project definition and work plan
5.3.1.4 Hard to establish scope-change procedures
5.3.1.5 Project deliverables are poorly defined
5.3.2 Schedule
5.3.2.1 Given schedule timeframe may be impossible to accommodate required activities
5.3.2.2 Most likely the schedule requirements will be impossible to meet
5.3.2.3 Hurried activity and schedule pressures are likely to cause errors in work
5.3.3 Budget
5.3.3.1 Budget will most likely not be accurate
5.3.3.2 Budget will not be structured in manner to facilitate tracking and control
5.3.3.3 There will be unrealistic expectations for what can be accomplished within the budget
5.3.4 Human Resources
5.3.4.1 Experience levels will be too low for the nature of the project
5.3.4.2 Training requirements will require more time than anticipated
5.3.5 Management
5.3.5.1 Organizational uncertainty can cause fear amongst the team
5.3.5.2 Employees may not focus on project if they have organizational concerns
5.3.5.3 Employees may fear loss of jobs in a new system
5.3.5.4 Employees may not use the system if they are unhappy with the organizational change
5.3.5.5 Uncertainty may cause decisions to be delayed
5.3.5.6 Project may get out of control as the internal processes become more complex and harder to manage
5.3.6 Senior Support
5.3.6.1 Project may not get the resources it needs
5.3.6.2 Project may not have the long-term commitment needed
5.3.6.3 Political battles may delay the project
5.3.6.4 Issues and change requests may not be resolved in a timely manner
5.3.7 Other Business or Company Issues
5.3.7.1 Number of departments involved will grow throughout project
5.3.7.2 Changes that will occur when project is complete
5.4 Technical
Technical risks that may impact your project.
5.4.1 May be difficult to understand the requirements and the implications of design decisions
5.4.2 Integration issues between old and new technology
5.4.3 May be difficulty testing the complex technology
5.4.4 The more complex the technology, the greater the risk that problems will occur
5.4.5 Problems with incompatible technologies may not be uncovered until integration or system testing
5.4.6 Longer learning curve for some project team members
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6 Risk Assessment
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For each risk identified, perform the following
analysis within this topic. Use this map part,
attached it to each category item on the checklist
that has a check, or a risk.
6.1 Detailed description:
6.1.1 Explanation
6.2 Impact:
6.2.1 Explanation
6.3 Severity:
6.3.1 Explanation
6.4 Probability:
6.4.1 Explanation
6.5 Likelihood of Prior Detection
6.5.1 Explanation
6.6 Mitigation Approach
6.6.1 Tolerate
6.6.2 Treat
6.6.3 Terminate
6.6.4 Transfer
6.7 Proposed Solutions:
6.7.1 Explanation
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