Risk Analysis Workbook

Free Risk Analysis Tool from Papercut EdgeA reader recently wrote in asking me for just the risk analysis portion of my “Big Grandaddy of Excel Project Tracking“. She also asked if there was an easy way to analyze the data included in the risk register. So I thought to myself, “hey, why not”. So, once again, absolutely free, is a risk register you can use for your projects.

Inside, you’ll find the risk register, which lets you list out all the risks you and your team can think of for your project. Using a simple four-point scale, you can rate the likelihood of each risk event happening, and the impact to your project in the event the risk event does occur.

You can select your risk approach (avoid, accept, mitigate or transfer), and rate each risk again, assuming each approach is followed. Of course, you can also keep track of who’s assigned which action items, and set a due date.

The risk register was designed so you can add as many risks as you like. Simply “fill down” the formulas in the grey cells and Excel will take care of the rest.

On the risk analysis tab, there’s some simple maps of the data, positioning your project risk both before and after planning.

As with all my Excel stuff, this workbook contains no macros of any kind, so you shouldn’t get any annoying popups when you launch it (if you do, you may want to scan your computer for viruses). The tradeoff for that is, there’s a scratchpad worksheet that’s meant purely for calculations.

Feel free to use this file however you like, and pass it around. Enjoy!

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I’m a professor of project management at the college where I work. My students continually amaze me with their insights, passion and all-around awesomeness. I figure they deserve access to more answers than I can give them by myself. This site is for them.
  • Devarajan

    Hi,

    Good to see the Analysis Tracking also in the Risk book itself. Thanks.

  • Jacob

    For projects involving more than just a few people, or more than one organization, the downsides of having a spreadsheet based risk register are the problems of versioning and being able to cross-updating the register.
    For most projects, a web based risk register such as http://mediumrisk.com is a much better solution than a spreadsheet based risk register. The advantages of having online access to an up-to-date risk register with action tracking and full audit trail will always make up for the small cost of using an online web service.

  • You’re right, Jacob. A spreadsheet based solution won’t stand up to the demands of a large, complex project. That being said, sometimes a spreadsheet is exactly what’s needed. It all depends on the scale, scope and need of the project (and project leadership) in question!

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