Risk Register (Standard / Qualitative) Updated On: 1/1/2015

Project Name
Risk Identification Instructions Qualitative Risk Assessment Instructions Risk Response Plan Instructions Monitoring and Control Instructions
(A) Risk # Sequential identifier for each risk (H) Impact Type Identify if risk will impact project cost, schedule or both (L) Strategy How will the risk be handled? (N) Risk Mitigation Individual responsible for monitoring
(B) Status Status of the risk event: (I) Probability Probability of occurrence of the risk event. Avoid bias when • Accept - No action/response required Task Leader the risk and implementing response
• Active - risk is actively monitored and controlled assessing this field. Risk to be addressed if it occurs actions / mitigation efforts
• Dormant - risk is currently low priority, but still exists 1 - Very Low, <10% 3 - Medium, 20-40% 5 - Very High, >70% • Avoid - Change project plan to eliminate risk (O) Status Include date and status comments for
• Expired - risk can no longer occur 2 - Low, 10-20% 4 - High, 40%-70% Modify scope, add time, add resources each entry. To maintain a history, do
• Occurred - risk event occurred and is now an issue • Mitigate - Action to reduce risk probability or impact not delete previous entries/comments
(J) Impact Identify the severity of the potential impact. If the risk event will
(C) Risk Category Type of risk / affected phase, including Design, ROW/Acquisition, • Monitor - Monitor risk and take action if triggered
impact cost and schedule to different degrees, use a rating for the
Funding, Permitting, Procurement, Construction, Political, Security • Transfer - Transfer risk impact to another party (P) Follow Up Date Date when response mitigation
greater impact.
(D) Date Identified Date risk is first identified (M) Response Actions to be taken to mitigate risk occurrence / impact actions update is due or actions to be
1 - Very Low 3 - Medium 5 - Very High Actions
(E) Threat or • Threat - risk with negative impact (increased cost or schedule) completed
2 - Low 4 - High
Opportunity • Opportunity - risk with positive impact (decreased cost or schedule)
(K) Risk Score = Probability x Impact VH 5 10 15 20 25
(F) Risk Description Description of the risk using the following general framework: “As a
(1-25) H 4 8 12 16 20
result of (definitive cause), (risk) may occur which could/may lead to

Probability
• Green is Low Risk
(effect)”. Should be clearly described so that individuals not familiar M 3 6 9 12 15
• Yellow is Medium Risk
with the project can understand the risk event. L 2 4 6 8 10
• Red is High Risk
(G) Risk Trigger Conditions indicating that the risk event is about to occur. Used to VL 1 2 3 4 5
determine when to implement Risk Response Plan. VL L M H VH
Impact

Risk Identification Qualitative Risk Assessment Risk Response Plan Monitoring and Control

Follow Up Date
Risk Mitigation
Date Identified
Risk Category

Opportunity

Task Leader
Threat or

Strategy
Status
Risk #

Risk Score Status Comments

Risk Description Risk Trigger Impact Type Probability Impact (1-25) Response Actions (including entry date)

(A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) (O) (P)
Opportunity

1-Mar-14
John Doe
2-Jan-14

Accept
Design
Active

1 Risk 1 Trigger 1 Cost 1 - Very Low,<10% 3 - Medium 3 Response Action 1 2/4/14 - Draft risk register template

2 Schedule 4 - High,40-70% 2 - Low 8

3 Cost & Schedule 5 - Very High, >70% 4 - High 20

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 Risk Identification Qualitative Risk Assessment Risk Response Plan Monitoring and Control

Follow Up Date
Date Identified

Risk Mitigation
Risk Category

Opportunity

Task Leader
Threat or

Strategy
Status
Risk #

Risk Score Status Comments

Risk Description Risk Trigger Impact Type Probability Impact (1-25) Response Actions (including entry date)

10

11

12

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Risk Register (Detailed / Quantitative) Updated On: 1/1/2015
Project Name
Risk Identification Instructions Quantitative Risk Assessment Instructions Risk Response Plan Instructions Monitoring and Control Instructions
(A) Risk # Sequential identifier for each risk (H) Probability Probability of occurrence of the risk event. Avoid bias when (Q) Strategy How will the risk be handled? (U) Risk Mitigation Individual responsible for monitoring
(B) Status Status of the risk event: assessing this field. • Accept - No action/response required Task Leader the risk and implementing response
• Active - risk is actively monitored and controlled (I) Cost Impact If the risk event will result in a cost impact, include the Minimum, Risk to be addressed if it occurs actions / mitigation efforts
• Dormant - risk is currently low priority, but still exists (J) Most Likely and Maximum estimated costs. • Avoid - Change project plan to eliminate risk (V) Status Include date and status comments for
• Expired - risk can no longer occur (K) Minimum should reflect the impact when the risk event does Modify scope, add time, add resources each entry. To maintain a history, do
• Occurred - risk event occurred and is now an issue occur , as opposed to a zero impact when the risk does not occur. • Mitigate - Action to reduce risk probability or impact not delete previous entries/comments
(C) Risk Category Type of risk / affected phase, including Design, ROW/Acquisition, (e.g., if the risk is 10% likely, 90% of the time impact is already 0) • Monitor - Monitor risk and take action if triggered
Funding, Permitting, Procurement, Construction, Political, Security Maximum should reflect a reasonable maximum cost (not a • Transfer - Transfer risk impact to another party (W) Follow Up Date Date when response mitigation
(D) Date Identified Date risk is first identified theoretical or absolute maximum). (R) Response Actions Actions to be taken to mitigate risk occurrence / impact actions update is due or actions to be
(E) Threat or • Threat - risk with negative impact (increased cost or schedule) (L) Schedule Impact If the risk event will result in a schedule impact, include the (S) Response Cost Estimated cost to investigate or mitigate potential risk completed
Opportunity • Opportunity - risk with positive impact (decreased cost or schedule) (M) Minimum, Most Likely and Maximum estimated time impacts. event, as described in Response Actions field
(F) Risk Description Description of the risk using the following general framework: “As a (N) Minimum should reflect the impact when the risk event does (T) Estimated Cost = Column O (Expected Cost Exposure) - Column S
result of (definitive cause), (risk) may occur which could/may lead to occur , as opposed to a zero impact when the risk does not occur. Avoided (Investigation/ Mitigation Cost)
(effect)”. Should be clearly described so that individuals not familiar (e.g., if the risk is 10% likely, 90% of the time impact is already 0) This value is used to evaluate and/or justify whether
with the project can understand the risk event. Maximum should reflect a reasonable maximum time (not a proposed mitigation efforts are cost effective. For
(G) Risk Trigger Conditions indicating that the risk event is about to occur. Used to theoretical or absolute maximum). purposes of simplicity, the field assumes zero residual risk,
determine when to implement Risk Response Plan. (O) Expected Cost Exposure = Probability x Cost Impact (average of Min, ML, Max) however in many cases a residual risk remains. The
(P) Expected Schedule = Probability x Schedule Impact (average of Min, ML, Max) project team should be aware of and consider any
Exposure remaining risk impact.

Risk Identification Quantitative Risk Assessment Risk Response Plan Monitoring and Control

Follow Up Date
Date Identified

Risk Mitigation
Schedule Impact Expected
Risk Category

Opportunity

Task Leader
Cost Impact

Probability
Exposure
Threat or

(weeks)

Strategy
Estimated
Status
Risk #

Risk Description Risk Trigger

= Probability x Average Impact
Response Actions Response Cost Status Comments
Cost Avoided
(including entry date)
Most Most Schedule
Min Max Min Max Cost
Likely Likely (weeks)
(A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) (O) (P) (Q) (R) (S) (T) (U) (V) (W)
Opportunity

1-Mar-14
John Doe
2-Jan-14

Accept
Design
Active

1 Risk 1 Trigger 1 50% $50,000 $100,000 $5,000,000 2 4 6 $858,333 2 Response Action 1 $10,000 $848,333 2/4/14 - Draft risk register template

2 $0 0 $0

3 $0 0 $0

4 $0 0 $0

5 $0 0 $0

6 $0 0 $0

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 Risk Identification Quantitative Risk Assessment Risk Response Plan Monitoring and Control

Follow Up Date
Date Identified

Risk Mitigation
Schedule Impact Expected
Risk Category

Opportunity

Task Leader
Cost Impact

Probability
Exposure

Threat or
(weeks)

Strategy
Response Estimated
Status
Risk #

Risk Description Risk Trigger

= Probability x Average Impact
Response Actions Cost Status Comments
Cost Avoided
(including entry date)

Min Most Max Min Most Max Cost Schedule

Likely Likely (weeks)

7 $0 0 $0

8 $0 0 $0

9 $0 0 $0

10 $0 0 $0

11 $0 0 $0

12 $0 0 $0

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List of Common Risks - All Projects
# Risk
1 Completeness of Design
2 Constructability of Design
3 Permits
4 Site Conditions
5 Funding/Financing
6 Weather
7 Completeness of Design
8 Constructability of Design
9 Permits
10 Plans/Specs
642306703.xlsx, Common Risks-All Projects
Risk Description
If design is advertised as 100%, is it really?
Can the design be constructed, as it is designed? Are there portions of design that are left for
the contractor to complete? If so, is it clear that this responsibility falls to the contractor?
Permit acquisition is always a risk, as neither the Owner, the Designer, nor the Contractor
generally has any control over the process of acquiring permits. In general terms, the risk of
timely permit acquisition is best mitigated by early application for permits, as well as diligent
and persistent monitoring of progress. Early application entails application for necessary
permits at the earliest possible point in the project life cycle that it becomes possible to submit
an application.
Geotechnical.
Environmental.
Utilities. (Above-ground and Underground)
Neighbors.
Natural. (is the site in a floodplain; seismic zone; hurricane-prone area; tornado alley?)
Budget uncertainties
Contingencies available
Contract & delivery method (DB, DBB)
Inflation/Market Fluctuations (Materials & Labor)
Length of project
Accessibility of site
Acts of God/calamity
Geography of site
Project exposure to weather
Water table
Weather history relevance
Winter work
Work on/in water
If design is advertised as 100%, is it really?
Can the design be constructed, as it is designed? Are there portions of design that are left for
the contractor to complete? If so, is it clear that this responsibility falls to the contractor?
Permit acquisition is always a risk, as neither the Owner, the Designer, nor the Contractor
generally has any control over the process of acquiring permits. In general terms, the risk of
timely permit acquisition is best mitigated by early application for permits, as well as diligent
and persistent monitoring of progress. Early application entails application for necessary
permits at the earliest possible point in the project life cycle that it becomes possible to submit
an application.
Constructability review performed
Contract administration by designer
QC program of designer
Quality of plans
Quality of specifications
Stage of completion of documents
Stage of permit authority reviews
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 Distance to concrete batch plant/Asphalt Plant
New product usage
Technical level of project
Owner supplied equipment
11 Quality Control Scope change history

Ability to investigate subsurface

Age of subsurface information
Availability of as-built drawings
Pre-bid field investigation availability
Quality of historical documents
12 Unforeseen Conditions Soil borings availability

Quality of specification
Reputation of contractor
Unit cost schedule - competitiveness
13 Change Management Time taken to register a change order/scope change
Completeness of schedule
Frequency of schedule updates
Quality of schedule
Quality of update information
14 Claims & Disputes
Other interfering contracts by Owner
15 Owner Interference Owner approval process

Access to site for proposed equipment

Condition of equipment
Restrictions on equipment run time
16 Equipment Noise Restrictions

Availability of skilled labor

Location of project
17 Labor Tightness of project site

Complexity of project
Interaction with other projects
Presence of poor soils
Presence of rock
Strength of schedule specification
Improper Update by all Stakeholders
Baseline schedule not detailed enough to track progress sufficiently
Unclear procedures regarding recovery schedules
Unclear procedures for determining time extensions for adverse weather
18 Schedule Failure to contractor to commit sufficient resources to schedule
Experience of project management team/Contractor
19 Project Management Specialty of contractor

Adjacent properties
Remoteness of site
20 Field Conditions Wetlands

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 Contractor safety program
Experience of crews
Hazardous materials involvement
Type of equipment to be used
21 Safety Type of work (Underground, Bridge, etc)

Funding sources
Political culture
Project prominence
22 Political Public awareness

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List of Common Risks - Railroad Projects
# Risk
1 Access to ROW (Right of Way)
2 Environmental
3 Adjacent Properties
4 RR Traffic vs. Personnel
5 RR traffic vs. grade crossings
6 RR Bridges
7 RR Tunnels
8 RR Utilities
9 Electric Traction Power
642306703.xlsx, Common Risks-RR
Risk Description
Agency Access: This is usually controlled by the operating railroad, and is comprised of the
conditions and controls they implement to control access to their property. Some of the cmmon
constraints are requirements for training, notification of proposed operations, accompaniment
by RR employees, restrictions on hours and types of work; etc.
Physical Access: On most RR projects, access to the ROW is limited by the surrounding
properties, which must be crossed to gain access to the ROW. Some RR’s have been more
successful at preserving their ability to access their ROW than others. Urban areas, and areas
of dense population are most problematic. Oftentimes, the only access available is from the RR
itself.
Historical: Environmental risks associated with the historical use of the property as a railroad. It
is not uncommon to encounter buried materials that are contaminated or hazardous when
excavating on RR properties. It is also not uncommon to find items such as buried rail-cars, rail,
tie-dumps, etc.
Natural: Comprised of the risks associated with protection of the environment rossed by the
railroad, including wetlands, rivers, and streams. Also includes risks of delays due to
disturbance of habitat of protected species (plant or animals). We have encountered
operational restrictions that have included hours of work, seasons we could not work in,
method of work restrictions, protective barriers for various species. Risk of delay is also
incurred for performance of studies related to protected species.
Railroads have historically been a catalyst for development, and that development has crowded
closely upon the RR ROW. In some cases, buildings and facilities have been built on RR
property. The near proximity of buildings na dfacilities causes risk to RR construction.
A risk to be recognized with any operations near active facilities. Risk is compounded when
working on mainline tracks, due to generally higher speeds and remote (not local) dispatching.
Risk is further compounded when multiple tracks are involved.
Grade Crossings are a risk to RR operations at any time, even without the presence of
construction activity on the RR. During construction, those risks are magnified by the possibility
that crossings signals controls could be impacted by construction activities.
RR bridges present an increased risk of train vs. personnel incidents. In general, a RR brdge
provides a means to cross an obstruction to the RR (river, highway, deep gorge, etc.). it is
natural for RR personnel, and construction personnel to use the same bridge to cross the
obstruction. Bridges not equipped with adequate walkways present hazards.
(see RR Bridges above)
In general, the railroad operates their train control signals, crossings signals, train location
systems, electrical switch controls, and communications systems by use of an underground
network of power, communications, fiber optic and signal cabling that runs along the ROW.
Excavation, drilling, post driving, piledriving or similar activities present the potential for damage
to these systems, which affects the ability of the RR to operate.
Risks are associated with electrical traction Power systems whether it is supplied as 3rd-rail or
by an overhead catenary system (OCS).
8 of 14 02/02/202306:03:19
 It is very common for other utilities to locate on RR ROW, especially fiber-optic systems (AT&T,
Sprint) and pipeline systems (oil & gas products). Generally, the information available regarding
the location of these underground systems is less than precise. Risks include time and cost
associated with avoiding these facilities, which oftentimes includes relocation of the utility out of
10 3rd party Utilities on RR ROW its existing location

Different than above, but including the same types of risks. These utilities are more common in
urban areas,, and include municipal utilities (water, sewer, gas) as well as telephone and
power. Some systems have been in place for many years, with varied degrees of as-built
11 Utilities crossing RR ROW information available

On many RR projects, the contractor is provided working access to a portion of the RR that is
allowed to be taken out of service for completion of the construction work. To do this, the RR
must route traffic on an alternate route or track. Oftentimes, a problem on the alternate in use
will cause the RR to ‘take back’ the out of service line/track from the contractor, so they are
able to operate without impacting their service. Delays can result until they have cured their
12 Railroad Operations Risks problems.

Similar to above. RR operations are considered throughout the planning process, and
construction is phased to cause least impact, or to predict all impacts, to RR operations. If an
impact is missed, or is not evaluated accurately, the RR will often stop the construction
13 Construction/Operations Phasing Risks. activities so they can revert to their original operations while the construction is replanned.

Risk of lack of adequately skilled personnel. Risk of jurisdictional disputes (RR labor vs.
construction contractor labor). Risk of RR not having adequate resources to staff a large project
14 Labor Issues (with flagman resources, conductor-flags, Track foremen, Signals personnel).

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List of Common Risks - Dept of Transportation

# Risk Risk Description

Does DOT own all the ROW needed, or are they in the process of acquiring? (delays in acquisition
1 Access to ROW (Right of Way) cause risk to schedule and cost)
Are any land acquisitions necessary for the project? Have all acquisitions been addressed prior to bid
2 Land acquisitions and award of contract?
On a road jobs, with existing traffic, Maintenance and Protection of traffic is a major task, and has
3 Traffic much of the project’s risk involved.

On a road job, especially one with existing traffic,materials supply is constrained by how well you
manage your traffic, especially bulk materials deliveries (asphalt and concrete). If the traffic jams up,
the materials deliveries are impacted. Once Contractors have set up the traffic pattern, ,and closed
4 Access lanes, they have constricted their own ability to get their trucks in and out of their project.

This goes hand-in-hand with M&P of Traffic, but is different in the aspect that the DOT will wish to
manage traffic to some extent. This is mostly a public perception/public relations effort, so they do not
get complaints from the traveling public. This traffic management effort usually results in phasing that
is less than optimal (from a construction productivity point of view), but allows traffic to pass with
minimal impact. These risks are best dealt with in Special Conditions of the contract, defining hours of
work, week-end work, allowable lane closures, week-end closures, etc. The Owner is best off by
including these conditions at bid time, and letting the contractor price the perceived impacts on a
5 Phasing competitive basis, rather than after award, when he has a stronger position (as a change).

Staging should be planned so that it will work geometrically, and that adjacent areas will interface at
the same elevations and points. The project staging should be constructable so that it will allow for
6 Staging adequate clearances and lane closures.
Is suitable laydown / storage areas available? Does DOT need to identify / provide areas prior to bid
7 Laydown / storage to eliminate contractor uncertainty and correspondingly higher bids?
8 Safety Safety concerns should be considered when considering MPT and staging.

9 Utilty Coordination
10 Coordination with 3rd Parties
11 Coordination with local municipalities
Coordination with utility companies to relocate or replace utilities can negatively impact a project's
schedule and/or contractor productivity. Advanced coordination and appropriate transfer of risk /
contract clauses should be considered.
Residents, neighbors, politicians, noise / access are all potential concerns with DOT projects that
involve work in public areas.

In many cases, there are other ongoing infrastructure projects that may tie-in or overlap in area with
certain DOT projects. Proper coordination is necessary with railroads, municipalities, utilities, etc to
12 Coordination with other projects avoid impacts/delays associated with progress on other projects.
Has necessary coordination with railroads been established regarding track outages and access for
13 Railroad coordination work at, over or near railroad tracks.
14 Railroad foul time Foul time should be considered when work is adjacent to railroad tracks.

Permit acquisition is always a risk, as neither the Owner, the Designer, nor the Contractor generally
has any control over the process of acquiring permits. In general terms, the risk of timely permit
acquisition is best mitigated by early application for permits, as well as diligent and persistent
monitoring of progress. Early application entails application for necessary permits at the earliest
15 Permits possible point in the project life cycle that it becomes possible to submit an application.

Necessary permits for in-water work (e.g., Army Corp of Engineers) should be obtained promptly, as
the permitting process could take time and if a permit is not obtained, could jeopardize the project and
16 In-Water Permits contractor's planned means and methods.

Restricted work periods should be considered with regard to when certain in-water work can be
performed (e.g., not in spawinging season, etc). A schedule without adequate float for completing
17 In-Water Seasonal restrictions work before shutdown periods presents a greater risk for schedule impacts.
A schedule without adequate float for completing work before shutdown periods presents a greater
18 Winter shutdowns risk for schedule impacts.

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 19 Ability to perform for low bid Is the low bidder contractor qualified and does it have capabilities to complete work?

How is the bidding environment. Are a lack of bids an indication that there are problems with
specifications / requirements, or that the DOT is seeking to transfer too much risk to the potential
20 Adequate number of bids contractor?
21 Material Escalation
22 Available workforce
23 Availability of material

Certain specialty equipment or other materials may take a long time to procure and should be
considered appropriately to avoid project impacts. Any necessary shop drawings and submittals
24 Long Lead time equipment availability / procurement should be identified as priority, and allow for adequate time for review and resubmission.
If owner is supplying equipment, must be properly coordinated with contractor and procured in a timely
25 Owner supplied equipment fashion.

Inaccurate quantity estimates can lead to additional or reduced costs and schedule impact. Quantities
26 Quantity overruns and underruns for major items should be confirmed/thoroughly evaluated to avoid unanticipated impacts.
27 Pay limits unclear Unclear pay limits can lead to claims for additional costs / quantities.

On most DOT projects, the DOT will keep some portions of the inspection (and acceptance) task. If
the DOT stretches their resources too thin, projects wait for the inspections to be completed. This can
28 DOT inspection resources have a disruptive effect on productivity.
29 New project delivery methods Are staff, contractors, policies suited for alternate project delivery methods
Failure to comply with environmental requirements (asbestos / lead paint removal) can result in
30 Environmental Compliance violations and additional clean-up costs and schedule impacts.
High traffic / urban areas present additional logistical concerns and the potential for greater impacts
31 Project location associated with the same issues.

32 Historical Special considerations must be taken when work is to be performed adjacent to historical structures.
33 Dump site Ability to dispose of unsuitable or excess material

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List of Common Risks - Water & Wastewater Projects
# Risk
1 Projecting project cost
Interaction Between different Agencies such as
Operating bureau, Design Department, State, Energy
2 Departments & EPA
3 Union Interaction/Inspection
4 Equipment Testing & Start-up
5 Operational Mishaps
6 Complaints from Neighbors
7 Integration with existing system
8 Poor/no as builts
9 Poor coordination
10 Too short construction schedule
642306703.xlsx, Common Risks-Water
Risk description
Engineers are notoriously poor construction cost estimators cost of the design works is greater than
the budget
Interaction between different agencies can cause issue to be held-up for extended period of time.
In Areas where unions are involoved, it becomes incresingly diffucult to get the work inspected &
turned over to Agencies.
Due to complexity of operation, the time require to successfully test & start-up equipment is almost
always greater than project in Baseline schedule.
Operating bureau may not be as conversant with newly installed system & may end up damaging
equipment/system.
Complaints from neighbors may lead to extra work. E.g: Noise complaints for newly installed
equipment can lead to extra work require to abate the noise.
On renovation project often new systems have to be integrated with existing systems. The integration
may not be as streamlined as originally estimated & may lead to delays to start-up.
During construction the new work has to be modified because
lack of coordination between specialties costs extra
Increases construction cost
12 of 14 02/02/202306:03:19
 STANDARD/QUALITATIVE RISK REGISTER INSTRUCTIONS
Risk Identification Instructions
(A) Risk # Sequential identifier for each risk
(B) Status Status of the risk event:
• Active - risk is actively monitored and controlled
• Dormant - risk is currently low priority, but still exists
• Expired - risk can no longer occur
• Occurred - risk event occurred and is now an issue

(C) Risk Category Type of risk / affected phase, including Design, ROW/Acquisition,
Funding, Permitting, Procurement, Construction, Political, Security
(D) Date Identified Date risk is first identified
(E) Threat or • Threat - risk with negative impact (increased cost or schedule)
Opportunity • Opportunity - risk with positive impact (decreased cost or schedule)
(F) Risk Description Description of the risk using the following general framework: “As a
result of (definitive cause), (risk) may occur which could/may lead to
(effect)”. Should be clearly described so that individuals not familiar
with the project can understand the risk event.

(G) Risk Trigger Conditions indicating that the risk event is about to occur. Used to
determine when to implement Risk Response Plan.

Qualitative Risk Assessment Instructions

(H) Impact Type Identify if risk will impact project cost, schedule or both
(I) Probability Probability of occurrence of the risk event. Avoid bias when
assessing this field.
1 - Very Low, <10% 3 - Medium, 20-40% 5 - Very High, >70%
2 - Low, 10-20% 4 - High, 40%-70%
(J) Impact Identify the severity of the potential impact. If the risk event will
impact cost and schedule to different degrees, use a rating for the
greater impact.

1 - Very Low 3 - Medium 5 - Very High

2 - Low 4 - High
(K) Risk Score = Probability x Impact VH 5 10 15 20 25
(1-25)
• Green is Low Risk H 4 8 12 16 20

Probability
• Yellow is Medium Risk M 3 6 9 12 15
• Red is High Risk
L 2 4 6 8 10
VL 1 2 3 4 5
VL L M H VH
Impact

Risk Response Plan Instructions

(L) Strategy How will the risk be handled?
• Accept - No action/response required
Risk to be addressed if it occurs
• Avoid - Change project plan to eliminate risk
Modify scope, add time, add resources
• Mitigate - Action to reduce risk probability or impact
• Monitor - Monitor risk and take action if triggered
• Transfer - Transfer risk impact to another party

(M) Response Actions to be taken to mitigate risk occurrence / impact

Actions

Monitoring and Control Instructions

(N) Risk Mitigation Individual responsible for monitoring
Task Leader the risk and implementing response
actions / mitigation efforts
(O) Status Include date and status comments for
each entry. To maintain a history, do
not delete previous
entries/comments

(P) Follow Up Date Date when response mitigation

actions update is due or actions to be
completed

VH 5 10 15 20 25
H 4 8 12 16 20

Probability
M 3 6 9 12 15
L 2 4 6 8 10
VL 1 2 3 4 5
VL L M H VH
Impact

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 DETAILED/QUANTITATIVE RISK REGISTER INSTRUCTIONS
Risk Identification Instructions
(A) Risk # Sequential identifier for each risk
(B) Status Status of the risk event:
• Active - risk is actively monitored and controlled
• Dormant - risk is currently low priority, but still exists
• Expired - risk can no longer occur
• Occurred - risk event occurred and is now an issue

(C) Risk Category Type of risk / affected phase, including Design, ROW/Acquisition,
Funding, Permitting, Procurement, Construction, Political, Security
(D) Date Identified Date risk is first identified
(E) Threat or • Threat - risk with negative impact (increased cost or schedule)
Opportunity • Opportunity - risk with positive impact (decreased cost or schedule)
(F) Risk Description Description of the risk using the following general framework: “As a
result of (definitive cause), (risk) may occur which could/may lead to
(effect)”. Should be clearly described so that individuals not familiar
with the project can understand the risk event.

(G) Risk Trigger Conditions indicating that the risk event is about to occur. Used to
determine when to implement Risk Response Plan.

Quantitative Risk Assessment Instructions

(H) Probability Probability of occurrence of the risk event. Avoid bias when
assessing this field.
(I) Cost Impact If the risk event will result in a cost impact, include the Minimum,
(J) Most Likely and Maximum estimated costs.
(K) Minimum should reflect the impact when the risk event does
occur, as opposed to a zero impact when the risk does not occur.
(e.g., if the risk is 10% likely, 90% of the time impact is already 0)
Maximum should reflect a reasonable maximum cost (not a
theoretical or absolute maximum).

(L) Schedule Impact If the risk event will result in a schedule impact, include the
(M) Minimum, Most Likely and Maximum estimated time impacts.
(N) Minimum should reflect the impact when the risk event does
occur, as opposed to a zero impact when the risk does not occur.
(e.g., if the risk is 10% likely, 90% of the time impact is already 0)
Maximum should reflect a reasonable maximum time (not a
theoretical or absolute maximum).

(O) Expected Cost Exposure = Probability x Cost Impact (average of Min, ML, Max)
(P) Expected Schedule = Probability x Schedule Impact (average of Min, ML, Max)
Exposure

Risk Response Plan Instructions

(Q) Strategy How will the risk be handled?
• Accept - No action/response required
Risk to be addressed if it occurs
• Avoid - Change project plan to eliminate risk
Modify scope, add time, add resources
• Mitigate - Action to reduce risk probability or impact
• Monitor - Monitor risk and take action if triggered
• Transfer - Transfer risk impact to another party

(R) Response Actions Actions to be taken to mitigate risk occurrence / impact

(S) Response Cost Estimated cost to investigate or mitigate potential risk
event, as described in Response Actions field
(T) Estimated Cost = Column O (Expected Cost Exposure) - Column S
Avoided (Investigation/ Mitigation Cost)
This value is used to evaluate and/or justify whether
proposed mitigation efforts are cost effective. For
purposes of simplicity, the field assumes zero residual risk,
however in many cases a residual risk remains. The
project team should be aware of and consider any
remaining risk impact.

Monitoring and Control Instructions

(U) Risk Mitigation Individual responsible for monitoring
Task Leader the risk and implementing response
actions / mitigation efforts
(V) Status Include date and status comments for
each entry. To maintain a history, do
not delete previous
entries/comments

(W) Follow Up Date Date when response mitigation

actions update is due or actions to be
completed

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