Risk Register Template

About this template

When to use it

A project risk register scored the usual way — likelihood times impact — with a level, a response strategy and a money figure for the exposure each risk represents. Three sheets — Dashboard, Input data, Usage guide — and only Input data takes typing.

What the dashboard holds

Everything on the Dashboard is a formula. “Key metrics — summed automatically from the ‘Input data’ sheet” holds B7:E7 — Rows entered, Expected loss (KRW 10k) total, Expected loss (KRW 10k) average, Expected loss (KRW 10k) max. That total is the headline number: the exposure the project is running. Under it, Summary by category (rows 12–16) splits the same money across the five categories in column B, and Total risk score by quarter (rows 20–23) is hand-typed for Q1 to Q4 with a total in B24 and an average in B25.

Filling order

1. Rows 2–21 of Input data take Risk No., Risk description, Category, Likelihood (1-5), Impact (1-5), Risk score, Risk level, Response strategy, Expected loss (KRW 10k), Response owner in columns A–J.
2. Number risks R-01 upward and describe each one as something that happens, not as a topic: “Subcontractor misses its delivery date” beats “subcontractor”.
3. Keep Category to Schedule, Cost, Technical, External, People — those five strings are the criteria behind B12:B16.
4. Rate Likelihood and Impact from 1 to 5. Columns F and G follow on their own.
5. Choose one of Avoid, Transfer, Mitigate, Accept. Where you pick Mitigate, the actual work belongs in an issue log, tracked to a date and an owner.
6. Column I must hold plain numbers, in units of KRW 10,000, and covers only the extra cost you carry if the risk turns real.

How the formulas calculate

• Key metrics: =COUNT(‘Input data’!$I$2:$I$21), SUM, =IFERROR(AVERAGE(…),0), =IFERROR(MAX(…),0).
• Each category row pairs =COUNTIF(‘Input data’!$C$2:$C$21,$B12) with SUMIF and AVERAGEIF over column I, and a share of =IFERROR(C12/COUNT(‘Input data’!$I$2:$I$21),0).
• Risk score is =D2*E2, so the scale runs 1 to 25.
• Risk level is =IF(F2>=15,”High”,IF(F2>=8,”Medium”,”Low”)). Move those two thresholds together if your organization scores differently.
• Under the quarterly table, =SUM(C20:C23) and =AVERAGE(C20:C23) return 269 and 67.25.
• Nothing weights expected loss by likelihood. If you want a probability-adjusted figure, add a column of your own rather than discounting the number in column I.

Examples

• Row 2 — R-01 · Key developers leave the project · People · 3 · 5, giving a score of 15, a level of High, a strategy of Mitigate, an expected loss of 4,800 and Lee Su-min as response owner.
• Row 3 — R-02 scores 4 × 4 = 16, the highest in the sample, and is transferred rather than mitigated.
• Row 9 — R-08 scores 2 × 2 = 4 and is simply accepted at 400.
• The eight sample risks total 20,800 of exposure, average 2,600 and peak at 5,400 (units of KRW 10,000).

Common mistakes

• Rating impact in money and likelihood as a percentage, which breaks the 1-to-25 score.
• Writing a category outside the five, so that risk disappears from B12:B16.
• Typing over columns F and G instead of adjusting the two ratings.
• Choosing Mitigate and stopping there — a mitigation with no owner and no date is an accepted risk with better wording.