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Risk Register - Explanatory Notes

• 1.1 Enter the project information in the input cells. Please note that the estimate cell is populated from the table at the bottom of the page. This table automatically removes the VAT from PCT Estimates.
1.Project Details •1.2 Provide a brief description of the project
•1.3 Revisions to this document should be recorded in the revision log.

•2.1 Review all the standard risks and select Y or N to confirm if they are applicable to the works contract
2.Risk Selection •2.2 If you are unsure at this stage whether a risk is applicable or not , you should select Y
•2.3 Some rows are not specific questions and are designed to prompt further thought on how the risks should be considered. The word "Prompt" will appear in the description column and the text will be in italics
•2.4 If you feel there is a specific risk to the contract that is not included in sections 1-9 please enter it in Section 10

3.1.1 When Tab 3 is selected , the sheet automatically filters for the risks that were marked as applicable in Tab 2. This means that if you decide to remove or add a risk at any stage, Tab 3 will automatically update.
3.1.2 The ownership of risks is now a required field for each risk. The owner can allocate the control or mitigation of a risk to another party.
General Information
3.1.3 A risk ranking function is now included. To see the risks displayed in order of their importance, click on the green Rank button in Column E
3.1.4

•3.1.1 Risks selected in Tab2, will be populated in the Contract Risk Register
•3.1.2 Click on first + symbol along the top to unhide the Workshop 3 section.
•3.1.3 While the risk heading and the nature of the risk will be pre-populated, please input specific details of the risk in column G- Specific Details
In Column H-Likelihood (%), assess the likelihood of the applicable risks using the 10% bands in the dropdown menu. It is appreciated that it may be difficult to accurately assess the likelihood of a risk occurring at this stage but you should assess the likelihood based on the current stage of
•3.1.4
the contract documents and make an informed "best guess"
Design Review
•3.1.5
Workshop (WS3) The impact of any particular risk is should be entered as a rating from 1-5 depending on the severity of the impact to the project. This is explained in more detail below. Please note this should include potential delay costs, increased quantities of work, additional scope or disruption claims.

•3.1.6
The analysis should be revised on a continuous basis during the design stage and record any mitigation measures carried out in Column S -Mitigation Measures. The impact and likelihood should be adjusted accordingly to reflect the mitigation measures and changes to the documents
•3.1.7 Please note that the inputs at workshop 3 will forward populate into Workshop 6 and 7 until the user overwrites the appropriate cells at Workshop 6 and 7

3.Contract
•3.2.1 The first quantitative risk analysis of the contract will be carried out immediately prior to tendering, when the risk register is at a stage where it solely identifies the remaining risks to the contract
Risk Register
At the pre-tender workshop, the risk register will be reviewed and agreement reached on any final changes to the contract documents and the likelihood and impact of the remaining risks. It is important that the ER has a detailed estimate of the works available to inform the quantitative
•3.2.2
analysis
•3.2.3 Click on the next 2 "+ "symbols along the top to unhide the Workshop 6 sections.
Pre Tender Review •3.2.4 In Columns W,X,Y,Z enter the likelihood and impact of the relevant risk
(WS6) •3.2.5 The impact should not include for delay element of the particular risk. It should only include for direct costs associated with the risk and include disruption costs and additional scope items.
The schedule impact is entered in the next section. The delay impact associated with each risk should be entered for each risk (in terms of days) if known in columns AL,AM,AN and AO. You are asked to consider if the risk may be on the critical path . If "Y" is selected in the dropdown menu,
•3.2.6
the delay risk is included in the calculation of contingency.
•3.2.7 If it is felt that the delay risk cannot be attributed to any individual risk , then an estimate of the cumulative impact of delay on the project can be included for in item 10.01.
•3.2.8 If the delay impact is not attributed to a particular risk, estimate the impact that all of the remaining risks will have on the critical path and enter a value in days against Risk 10.01 in Column N

•3.3.1 The pre-award review is to be carried out when the Contract documents have been completed, sent out to market and tenders have been returned
Pre Award Review (WS
•3.3.2 At this stage the quantitative risk analysis will be carried out again, based on the actual tender values and works proposals of the preferred bidder
7)
•3.3.3 This quantitative risk analysis on the tender will provide guidance as to the contingency required and the ranking of risks in order of their impact to the contract

Impact Rating Scale Guidance

Rating Proportion of Contract Value/Estimate
1 >0.1% < 1%
2 >1% < 2.5%
3 >2.5% < 4%
4 >4% < 5.5%
5 > 5.5%
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CONTRACT RISK REGISTER

Project/Programme Name: Regional Lead:
Contract Name: Project Manager:
Project Number: Delivery Portfolio:

Project/Programme Value: Ex Vat Employers Representative:

Proposed Contract Duration (weeks): ER Project Manager:

Projected Site Supervision Costs

Brief Description of Project:

Revision Log: Project Estimate- Please note that, in the case of PCT estimates, the sheet automatically removes the VAT for calculations

Revision No. Date: Revised by Project Stage Min Amount Max Class
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Party ID Risk No Grouping Risk Type Risk Type Risk Applicable (Y/N) Description Nature of Risk
Ground/Site Investigation

Land And Planning

Environmental

3rd Party

Constructability Risk

Client Risk

Macro Financial

Project Specific
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WS 6 Risks WS 7 Risks €0.00 Workshop 3 - Design Review Workshop Workshop 6 - Pre-Tender Review - Likelihood and Cost Impact Workshop 6 - Pre-Tender Review -Schedule Impact Site Supervision Rank Data
Cause Risk Effect and Mitigation Measures Risk and Control Owner Workshop 7 - Pre Award Document Review- Likelihood and Cost Impact Workshop 7 - Pre Award Document Review- Schedule Impact ProjectTracking Section
0 0 #DIV/0! Residual Impact (€) Residual Impact (Days)

Event Total
Event Pert Residual Pert Min Most Likely Max WS 7 Site WS 7 Site Claim ER Amount
Risk Where does this Likelihood Likelihood (/100) Event occurs Pert Distribution Most Likely Max RANK occurs Potential Expiry
Risk Type Details Risk Rank Approx allocation Cause Risk Effect Control/Mitigation Measures Risk Owner Control Owner Expiry Date Graph Text Min Impact M.likely Impact Max Impact occurs Distibution Cost1 Impact Rating 1-5 Min Most Likely Max Graph txt Cost Min Schedule Impact Most Likely Schedule Impact Max Schedule Impact Comments Critical Path Min Days Likelihood Min Residual Impact (Eur) Most likely Residual Impact (Eur) Max Residual Impact (Eur) Graph txt Distribution Cost Schedule Schedule Schedule Comments WS 7 Critical Path Min Most Likely Max Comments Supervsion Supervsion WS3 Rank WS6 Rank WS 7 Rank Register Determine Determine Details
No risk apply ? (/100) WS3 WS6 (y=1/n=0) Impact Days Days COLUMN (y=1/n=0)1 Client Risk Date
(y=1/n=0) Impact (/100) WS7 Impact Impact Impact Impact Pert Costs2 No. d (Y/N) d to Date
2 Exposure