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Step 1. List All Risk in Relevant Phase: Example: Project Phase Initation 1 2
Step 1. List All Risk in Relevant Phase: Example: Project Phase Initation 1 2
First step of risk management is to list all risks for each phase of the project. Setting up this list has to be do
done by project phase (TOL, SOW, Design, ...) at project initiation for all phase,
Example :
Project Phase
Initation
1
2
Each risk of risk list has to be quantified according three variables : Probability, Impact and Period. The two
PROBABILITY
Probability
Highly Unlilkely
Unlikely
50/50
Likely
Almost certain
IMPACTS
Impact - Time
Minor
Important
Serious
Higly Serious
Critical
Impact - Costs
Minor
Important
Serious
Higly Serious
Critical
l risks for each phase of the project. Setting up this list has to be done with no consideration on how high or serious the risk are. This step a
ect phase (TOL, SOW, Design, ...) at project initiation for all phase, the list should be updated before the beginning of each phase as projec
Threat
To add a risk to the risk lis
Project responsibles in other BUs are not identified after last risk listed.F
risk 1
Once the risk is registered,
the risk has been cleared you
risk2
according three variables : Probability, Impact and Period. The two main impacts identified for National Grid projects are Timeand Costs. F
tables
PROBABILITY
Probability
Threat has never become an issue in similar projects 1
IMPACTS
Impact - Time
No significant impact on schedule 1
<5% raise on mileston time 2
5-10% raise on milestone time 3
10-20% raise on milestone time 4
>20% raise on milestone time 5
Impact - Costs
No significant impact on costs 1
<5% raise on mileston cost 2
5-10% raise on milestone cost 3
10-20% raise on milestone cost 4
>20% raise on milestone cost 5
erious the risk are. This step aims at having an exhaustive list of all risk that may impact project. Risk list is
nning of each phase as project manager will have a more precise idea of risks.
To add a risk to the risk list of one project phase, one should insert a new line just
after last risk listed.Fill in the risk description under the threat column.
Once the risk is registered, please choose "No" in the "risk cleared ?" column. Once
the risk has been cleared you can choose "yes" and the risk will no more be taken into
account
projects are Timeand Costs. For each variable, quantification of risks follows bellow
PERIOD
Period
1 year Risk may happen 1 year after identification 1
6 months
Risk may happen 6 months after identification 2
3 months
Risk may happen 3 months after identification 3
2 months
Risk may happen 2 months after identification 4
1 month
Risk may happen 1 months after identification 5
NATION
Risk Identification
Threat Probability Cost Impact Time Impact
SOW preparation Phase
5 5 5
No contact given to review SOW
No respect of delay by reviewer 5 3 4
of each division
No relevant comment given by 3 3 4
the reviewer
Tendering Phase
Test 5 5 5
Design Phase
A 4 5 5
Construction Phase
B 2 3 3
Installation Phase
C 3 4 4
Commissioning Phase
Energization Phase
Close-out
NATIONAL GRID - PMO PROJECT - RISK REGISTER TE
5 100 abc 4 2
5 87.5 def
5 52.5 ghi
5 125
0
0
5 100 A 2 2
0
0
3 18 B 1 2
0
0
4 48 C 2 2
0
0
0
0
0
0
0
0
0
0
0
T - RISK REGISTER TEMPLTE
Risk Response
Revised Time Impact Revised Period Owner Start Date Deadline
4 5
2 2 NG
2 1 NG CONSULTANT
1 1 PROJECT
RevisedCriticality
60
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0