Free Risk Log Template
Risk Log
Prepared by: [YOUR NAME]
Introduction
This Risk Log has been created to assist in the strategic planning process for [YOUR COMPANY NAME]. It provides a systematic approach to identifying, assessing, and managing potential risks that could impact the achievement of long-term strategic goals. By monitoring these risks, we aim to proactively address potential challenges and ensure that our strategic objectives are met effectively.
Table 1: Risk Identification
|
Risk ID |
Risk Description |
Impact |
Probability |
|---|---|---|---|
|
072 |
Economic downturn |
High |
Medium |
|
119 |
Regulatory changes |
Medium |
High |
|
034 |
Technological disruption |
High |
Low |
Table 2: Risk Mitigation Strategies
|
Risk ID |
Mitigation Strategy |
Status |
|---|---|---|
|
072 |
Diversify investments; Increase savings |
Monitoring |
|
119 |
Stay updated with regulations; Adapt policies |
Active |
|
034 |
Invest in technology upgrades; Regular R&D |
Planned |
Table 3: Risk Status
|
Risk ID |
Current Status |
Last Updated |
Next Review Date |
|---|---|---|---|
|
072 |
Monitoring |
August 15, 2050 |
November 15, 2050 |
|
119 |
Active |
August 15, 2050 |
November 15, 2050 |
|
034 |
Planned |
August 15, 2050 |
November 15, 2050 |
Reminders
-
Regular Updates: Ensure that the Risk Log is reviewed and updated regularly to reflect any changes in risk status or new emerging risks.
-
Stakeholder Communication: Keep relevant stakeholders informed about the risks and mitigation strategies to maintain alignment and support.
-
Risk Review Meetings: Schedule periodic meetings to discuss the status of risks and the effectiveness of mitigation strategies.
-
Documentation: Maintain thorough documentation of all risk management activities for future reference and compliance purposes.
For further information or queries, please contact [YOUR EMAIL].
[YOUR COMPANY NAME]
[YOUR COMPANY NUMBER]
[YOUR COMPANY ADDRESS]
[YOUR COMPANY WEBSITE]
[YOUR COMPANY SOCIAL MEDIA]
This Risk Log was prepared on August 15, 2024.
