Project risk assessment template

Project risk assessment template is a sample document that shows the process and procedure of identifying project risk, project risk control and project risk reduction. A well designed project risk assessment sample can help business and project managers to manage risks effectively.


Project Risk Assessment Overview

Project risk assessment need to understand the project objectives and criteria. After the identification of project objectives, we can then establish the risk acceptance criteria. In project risk management we could establish acceptance criteria related to two types of events:

  • Events with severe consequences related to health, environment and safety.
  • Events with severe consequences related to project costs, project quality, project duration, or even termination of the project.

The first key issue in project risk assessment is the risk identification. In the process of identifying the key risks, it is important to know the hazards and threats. A hazard is typically related to energies, poisonous media etc, and if they are released this will result in an accident or a severe event. A threat is a wider term than hazard, and we include also aspects as “wrong” method applied, “lack of competence and experience”.

Project Risk Assessment Template

There is free project risk assessment sample you can download for reference, however, you can develop your own personal project risk assessment sample through Word or Excel. During the design process, it is important to consider the project risk assessment format, project risk assessment form and project risk assessment layout.

The first key part in project risk assessment template is the project background information. In the section, you need to describe the project. For example, the Project Name:___; Project Duration:___; Project background:___.

The second key part in project risk assessment form is the risk criteria. In the section, you need to show the details of risk level and assessment criteria. For example, The Hazard Identified:___; The risk rating:__; The risk priority:___.

The last key part in project risk assessment format is the control measure. In the section, you may give details on the control measure. For example, Current risk control measure:___; The planned action:___; Is the measure adequate___.