Cross-Functional · Framework · Intermediate · Saves 30+ hours
Risk Management Framework
A framework for managing project risks.
What's included
- Risk Process
- Risk identification
- Risk assessment
- Risk response
- Risk monitoring
- Risk Tools
- Risk register template
- Risk assessment matrix
- Risk response strategies
- Governance
- Risk review cadence
- Escalation criteria
- Decision authority
Best used when
- Starting new projects
- Managing complex initiatives
- Improving risk culture
- Preparing for audits
Why this is Gold
Projects fail from unmanaged risks. This framework creates risk visibility.
The template
The Template
PROJECT RISK MANAGEMENT
Risk Register Template
PROJECT RISK REGISTER
PROJECT: _______________
Last updated: _______________
| ID | Risk | Probability | Impact | Score | Owner | Mitigation | Status |
|----|------|-------------|--------|-------|-------|------------|--------|
| R1 | | ☐H ☐M ☐L | ☐H ☐M ☐L | | | | ☐Open ☐Closed |
| R2 | | ☐H ☐M ☐L | ☐H ☐M ☐L | | | | ☐Open ☐Closed |
| R3 | | ☐H ☐M ☐L | ☐H ☐M ☐L | | | | ☐Open ☐Closed |
| R4 | | ☐H ☐M ☐L | ☐H ☐M ☐L | | | | ☐Open ☐Closed |
Risk Assessment Matrix
RISK SCORING MATRIX
IMPACT
L M H
┌────┬────┬────┐
H │ M │ H │ H │
PROB M │ L │ M │ H │
L │ L │ L │ M │
└────┴────┴────┘
SCORING:
H (High) = Immediate attention required
M (Medium) = Monitor and plan mitigation
L (Low) = Accept and monitor
Risk Response Strategies
| Strategy | When to Use | Example |
|---|---|---|
| Avoid | High impact, can eliminate | Change approach |
| Mitigate | Can reduce probability | Add controls |
| Transfer | Can shift ownership | Insurance, vendor |
| Accept | Low impact/probability | Monitor only |
Risk Review Checklist
WEEKLY RISK REVIEW
☐ All risks reviewed
☐ New risks identified
☐ Probability/impact reassessed
☐ Mitigation actions updated
☐ Closed risks archived
☐ Escalations made if needed
TOP 3 RISKS THIS WEEK:
1. _______________
2. _______________
3. _______________
Frequently asked questions
What is the Risk Management Framework?
A framework for managing project risks.
Who is the Risk Management Framework for?
It is built for Cross-Functionals and their teams working on Project Management. The AI coach adapts it to your company, stage, and goals.
How long does the Risk Management Framework take to use?
It saves roughly 30+ hours versus building from scratch. Our AI coach can tailor the framework to your situation in minutes, then hand you a step-by-step plan.
Is the Risk Management Framework free?
Yes. You can read the full framework and start getting coached through it for free. Sign in to save your tailored version and track your next steps.
How does the AI coach help with the Risk Management Framework?
The coach teaches you the framework, asks a few questions about your business, tailors the framework to you, and gives you measurable next steps to execute.