Decisions Issues Risk Log
Decisions Issues Risk Log
Prepared by: [YOUR NAME]
Date: [DATE]
The purpose of a Decision Issue Risk Log is to systematically document and track potential risks associated with key decisions or issues. It helps in identifying risks early, assessing their impact, and developing strategies to mitigate them. This proactive approach ensures informed decision-making and minimizes adverse effects on projects or operations. By maintaining a clear and organized log, teams can effectively manage and address risks as they arise.
|
ID |
Decision/Issue |
Risk Description |
Impact |
Mitigation Strategy |
|---|---|---|---|---|
|
001 |
Implementation of new software |
Potential delays in integration |
High |
Develop a phased implementation plan and conduct pilot testing. |
|
002 |
Change in supplier |
Risk of supply chain disruption |
Medium |
Establish alternative suppliers and stockpile critical materials. |
|
003 |
Budget reduction |
Possible decrease in project scope |
High |
Reassess project priorities and adjust scope accordingly. |
|
004 |
Regulatory change |
Non-compliance with new regulations |
High |
Regularly review regulatory updates and adjust practices as needed. |
|
005 |
Staff turnover |
Loss of key personnel affecting project continuity |
Medium |
Implement retention strategies and cross-train team members. |
Notes & Reminders:
-
Regular Updates: Keep the log current by updating it regularly with new risks and status changes.
-
Risk Assessment: Evaluate the impact and likelihood of each risk to prioritize mitigation efforts effectively.
-
Stakeholder Communication: Share the log with stakeholders to ensure transparency and collaborative problem-solving.
-
Review and Adaptation: Periodically review and adjust mitigation strategies based on new information or changes in circumstances.
