Risk Log

Risk Log / Register Created By Rajat Kumar In Projects the most unavoidable aspect is Uncertainty, even the most proficient Managers faces difficulty to handle it. Various techniques are used by them like decision milestones to expected outcomes, risk management for prevention of disasters and some uses computational procedure taken from previous projects to get indemnity of Desired deliverables, nonetheless the project runs out of scheduled time, Increased Budget and compromise with the quality. Or sometimes it may fail.[ Managing Project Uncertainty From Variation to Chaos] Conventional tools and activities are used such as work breakdown structure, Schedules and cost estimates all are proposed to be related with Risk Management. Though, the key management tool is Risk Log/Register. It is a record of identified risks, including results of analysis and planned responses. It is used in a range of project management activities; for example, it is one of the tools to control the project, to document lessons learned, or is used in procurement planning. [How to do projects] This article will try to explain How to create Risk Log/register for a project with a format and the application tools of using it in Risk management. Moreover, article will try to show the correlation of different aspect of risk management in relation of Risk log. 1. Definition 2. How to create the Risk Log Using Application tools of Risk management 2.1 Identify 2.2 Assess 2.3 Response 2.4 Monitor References 1. ISO 21500 2. How to do projects – Handbook 3. Managing project uncertainty: From variation to chaos IN Mit Sloan Management Review — 2002, Volume 43, Issue 2, pp. 60-67 BY De Meyer, Arnoud; Loch, Christoph H.; Pich, Michael T.