Analysis Of Risk Register 2022

Analysis of Risk Register
Student Details
3/19/2020

Contents
Introduction.....................................................................................................................................................3
Risk Register Table.........................................................................................................................................3
Importance of Risk Register table in Risk Management Plan........................................................................6
Consequences of Improper Management of Probable risks........................................................................7
Bibliography...................................................................................................................................................8

Introduction
Risk management is considered one of the crucial functions of an organization. In order to identify the
probable risk that an organization may face or facing can be mitigated with a proper management
program. In this study probable risk register table is framed here and the risk management plan for
identified risks are discussed (Hazır, 2015).
Risk Register Table
A numeric scale has been used to calculate risk probability and impact which further identified the overall
score (JISC, 2014).
In order to nark risk probability and impact following scale is used in the table:
Risk Score Legend: For 1 to 2 For 3 to 5 For 6 to 9
Sr.
No
.
Risk
Descriptio
n
Before Mitigation Mitigatio
n and
Avoidanc
e
After Mitigation Conting
encies
Trigg
er
Point
Own
er
Probab
ility
Impa
ct
Sco
re
Prob
abilit
y
Impa
ct
Sco
re
1. Wrong
project
cost
assessment
1 3 3 Checking
of Budget
multiple
of times
1 1 1  Budget
recalcul
ation
 Correct
ive
measur
es
At the
time
of
discov
ery of
the
proble
m
Man
agin
g
direc
tor
2). Impact
a) Low Impact = 1
b) Medium Impact = 2
c) High Impact = 3
1). Probability
a) Low Probability = 1
b) Medium Probability = 2
c) High Probability = 3