Risk Register Template: BSBPMG517 Manage Project Risk Assessment

This document presents a completed risk register template for the BSBPMG517 module, focusing on managing project risk. The template comprehensively addresses various risk categories, including human resource, technological, financial, time, and communication risks. Each risk category is thoroughly analyzed, detailing potential consequences, likelihood and impact ratings, and proposed mitigation strategies. The register includes specific examples such as training deficiencies, technological limitations, budgetary constraints, and time management issues. For each identified risk, the template outlines the risk response, the individual or team responsible for mitigation actions, the implementation date, and the current risk status. This structured approach ensures that potential project challenges are proactively identified, assessed, and managed, thereby increasing the likelihood of successful project outcomes. The document also includes dates for recording and review to ensure ongoing relevance and effectiveness of the risk management plan.

Risk Register Template:
BSBPMG517 Manage Project Risk
Instructions: Write your name here
Risk Register Template: BSBPMG517 Version: v20.0 Page 1 of 7

Copyright 2020
 Australian College of Business Intelligence
All rights reserved
Version: 20.0
Date Modified: May 2020
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Risk Register Template: BSBPMG517 Version: v20.0 Page 2 of 7

Instructions: Complete the table below.
Project Code Project Name
Risk
ID Risk Category Description
of Risk
Potential
Consequences
/ Impact
Likelihood
/ Probability
Rating
Consequence
/Impact Rating
Risk Rating
Timing Date
Recorded
and
Reviewed
Risk
Response
(with steps by
action plan)
Responsibility
for mitigation
action(s)
Date
Mitigation
Implemented
Risk
Status
1. Category 1
Human
resource risk
This risk can
have high
impact on the
firm. If the
employees do
not
knowledge
related to
how to
manage and
use business
analytics than
it can act as
big risk
If human
resources are
not being
trained well
then it can
have severe
negative
impact like for
example the
operational
efficiency of
project will be
reduced.
Occasionall
y
Moderate Medium Anytime 15 october For this
better
training of
human
resources
was being
done
All the
stakeholders
were provided
off the
responsibility
for this
20 October
2020
Moderat
e
Managing
people risk
If people are
not been
managed
there can be
delayed in
work
It can increase
risk of loss
Occasionall
y
Moderate Medium Anytime 15 October HR should
manage
people better
All the
managers were
provided off
the
responsibility
for this
20 October Resolved
Risk Register Template: BSBPMG517 Version: v20.0 Page 3 of 7

Project Code Project Name
Risk
ID Risk Category Description
of Risk
Potential
Consequences
/ Impact
Likelihood
/ Probability
Rating
Consequence
/Impact Rating
Risk Rating
Timing Date
Recorded
and
Reviewed
Risk
Response
(with steps by
action plan)
Responsibility
for mitigation
action(s)
Date
Mitigation
Implemented
Risk
Status
Category 2
Technologic
al risk
In this if
employees
have no
knowledge
related to
making use of
advanced
techniques,
then
efficiency of
business will
be reduced
down and
also they will
not be able to
serve the
clients and
consumers
This can
increase the
risk for failure
of project
implemented
by company
Occasionall
y
Severe High anytime 15 October In this better
leadership is
required so
that they can
motivate
employees to
make use of
tools and
techniques
. All the
stakeholders
were provided
off the
responsibility
for this
20 October Resolved
Risk Register Template: BSBPMG517 Version: v20.0 Page 4 of 7

Project Code Project Name
Risk
ID Risk Category Description
of Risk
Potential
Consequences
/ Impact
Likelihood
/ Probability
Rating
Consequence
/Impact Rating
Risk Rating
Timing Date
Recorded
and
Reviewed
Risk
Response
(with steps by
action plan)
Responsibility
for mitigation
action(s)
Date
Mitigation
Implemented
Risk
Status
No
understandin
g of
techniques
It needs to be
reduced
down and
also they will
not be able to
serve the
clients and
consumers
It can lead to
delay in work
Occasionall
y
Severe Moderate Anytime 15 October In this better
leadership is
required
Engineers are
provided with
responsibility
to look on this
20 October Resolved
Category 3
Financial risk
In this the
budget needs
to be set up
according to
the
requirements
of
organisation
If not been met
the budgetary
requirements,
the project can
be delayed
Occasionall
y
Moderate High Anytime 15 October Proper
budget
planning
needs to be
done in this
In this the
finance
manager is
given
responsibility
to check upon
all these
20 October Resolved
Risk Register Template: BSBPMG517 Version: v20.0 Page 5 of 7

Project Code Project Name
Risk
ID Risk Category Description
of Risk
Potential
Consequences
/ Impact
Likelihood
/ Probability
Rating
Consequence
/Impact Rating
Risk Rating
Timing Date
Recorded
and
Reviewed
Risk
Response
(with steps by
action plan)
Responsibility
for mitigation
action(s)
Date
Mitigation
Implemented
Risk
Status
No proper
managing of
accounts
In this
accounts
should be
managed
properly for
delayed
increase in
cost
the project can
be delayed
Occasionall
y
Moderate High Anytime 15 October Proper
planning
must be done
In this the
finance
manager is
given
responsibility
to check upon
all these
20 October Resolved
Category 4
Time risk
In this
organisation
needs to
complete the
task on
timely basis
It will increase
cost
Occasionall
y
Moderate High Anytime 15 October Proper
planning
must be done
Manager needs
to check all
responsibility
20 October Resolved
Managing
time
constraints
In this time
constraints
must be
managed
Time must be
managed
properly
Occasionall
y
Moderate High Anytime 15 October Proper
planning
must be done
Manager needs
to check all
responsibility
20 October Resolved
Risk Register Template: BSBPMG517 Version: v20.0 Page 6 of 7

Project Code Project Name
Risk
ID Risk Category Description
of Risk
Potential
Consequences
/ Impact
Likelihood
/ Probability
Rating
Consequence
/Impact Rating
Risk Rating
Timing Date
Recorded
and
Reviewed
Risk
Response
(with steps by
action plan)
Responsibility
for mitigation
action(s)
Date
Mitigation
Implemented
Risk
Status
Category 5
Communicati
on risk
In this
effective
communicati
on must be
done to
resolve miss-
understandin
g
It will reduce
productivity
Occasionall
y
Moderate High Anytime 15 October Better and
effective
communicati
on must be
done
Managers
needs to make
sure effective
communication
is established
20 October Resolved
Increasing of
miss
understandin
g risk
In this
effective
communicati
on must be
done
It will help in
solving
problems
Occasionall
y
Moderate High Anytime 15 October Managers
needs to make
sure effective
communication
is established
20 October Resolved
Risk Register Template: BSBPMG517 Version: v20.0 Page 7 of 7