Quantitative Risk Issue Log
Quantitative Risk Issue Log
Prepared by: [YOUR NAME]
Date: [DATE]
The Quantitative Risk Issue Log Template is designed to systematically assess and track risk issues using quantitative methods. It helps prioritize risks based on their impact and status, ensuring effective risk management. The log provides a clear overview for stakeholders to understand and address potential risks proactively.
|
Risk ID |
Risk Description |
Status |
Impact (1-10) |
Mitigation Plan |
|---|---|---|---|---|
|
001 |
Delay in project delivery due to supplier issues |
Open |
7 |
Identify alternative suppliers, negotiate contracts |
|
002 |
Cost overrun due to unexpected material price increase |
Open |
8 |
Lock in prices with suppliers, create a contingency budget |
|
003 |
Technical failures in new software implementation |
In Progress |
9 |
Conduct thorough testing, schedule regular maintenance |
|
004 |
Regulatory changes affecting project scope |
Open |
6 |
Monitor regulatory updates, adjust project plans accordingly |
|
005 |
Key staff turnover during project execution |
Closed |
5 |
Develop succession plans, offer retention incentives |
Reminders
-
Regular Updates: Update the log regularly and set reminders for periodic reviews.
-
Stakeholder Communication: Share the log with stakeholders to keep them informed.
-
Documentation: Record all changes to maintain transparency and historical reference.
