Each section contains a series of important risk management considerations, accompanied by checkboxes to track your progress. By systematically addressing these risk management aspects, you can enhance your project's resilience and minimize potential setbacks.
The is a free download in multiple formats including Word, docx, OpenDocument Text, and PDF. Download now and empower yourself with a valuable resource to ensure proactive risk management throughout your project's lifecycle!
By downloading our checklist you get:
- The 20 one-off checks you must make at project start-up.
- 8 essential checks for an effective Risk Register.
- 5 ongoing checks you need to do manage your risks.
- A document you can edit and share with ease.
The contents of the Risk Management Checklist
Field Description and Tips to Complete
Project details and document control
Provide information on the project and document:
- Project Name and Reference
- Document information: ID, owner, issue date, last saved date, file name or path
- Document history: version, issue date, changes.
- Document approvals: role, name, signature, date
One Time Activities
- 1. Is your approach to managing risk defined in a Risk Management Plan?
- 2. Has the Risk Management Plan been reviewed and approved by the appropriate sign-off authority?
- 3. Have the roles and responsibilities for managing risks been clearly defined?
- 4. Is there a process in place to regularly review and update the Risk Register
- 5. Are risk monitoring and control mechanisms established to track the status and progress of identified risks.
- 6. Is there a communication plan in place to share risk information with relevant stakeholders?
- 7. Has the Risk Management Plan been integrated into other project management processes, such as planning, scheduling, and budgeting?
- 8. Are there mechanisms in place to capture and document lessons learned from past risk events or projects?
- 9. Are there mechanisms to ensure ongoing training and awareness of risk management principles and practices?
- 10. Are there procedures in place for reporting and escalating risks to the appropriate levels of management?
- 11. Does the Risk Management Plan include provisions for continuous improvement and refinement of risk management processes?
- 12. Have you scheduled Risk Workshops with your Project Team and stakeholders to brainstorm and identify potential risks?
- 13. Have you identified who is responsible for maintaining the Risk Register?
- 14. Does the Project Team know what to do if they identify a risk?
- 15. Is the Risk Register accessible to all Project Team members?
- 16. Has the Risk Register been shared, or its location communicated to the Project Team and appropriate stakeholders?
- 17. Is there a process for confirming Risk Owners and making sure that they are clear on their responsibilities?
- 18. Is there an agreed format for writing risk descriptions? For example, ‘there is a risk that x will happen if y’.
- 19. Are the Project Team trained on the difference between risks and issues?
- 20. Is there a process and form for documenting details about specific high priority risks? For example, a Risk Data Sheet Template or a Risk Mitigation Report.
Risk Register Checks
- 1. Is every risk clear and understandable?
- 2. Are there mitigating actions for each risk?
- 3. Is there a contingency plan in place for each risk?
- 4. Does each risk have a rating for severity, impact, and proximity?
- 5. Are there actions / next steps for each risk?
- 6. Has each risk been reviewed in the last week?
- 7. Have high severity, high impact risks been shared with the project board/sponsor?
- 8. Does each risk have a named Risk Owner who is clear on their responsibilities?
Iterative, ongoing activities
- 1. Is the Risk Register being updated as specified in the Risk Management Plan?
- 2. Are the Project Status Reports used to keep the Project Board/ Sponsor and Stakeholders updated on the progress of mitigating actions?
- 3. Are the Project Team updated on the status of open risks via regular team meetings?
- 4. Is the project manager notified of all risks regardless of the perceived size or impact?
- Are all risk responses considered when reviewing new risks? In other words don't just consider reducing the likelihood of a risk occuring.
Download the Risk Management checklist
Word download - Risk Management checklist (Word .doc)
Word download - Risk Management checklist (Word .docx)
OpenDocument Text - Risk Management checklist (.odt)
PDF download - Risk Management checklist (.pdf)
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