20 Common Project Risks – example Risk Register

7
Unplanned work that must be accommodated
Low
High
Medium
Team Manager
Attend project scheduling workshops.
Check previous projects, for actual work and costs.
Check all plans and quantity surveys.
Document all assumptions made in planning and communicate to the project manager before project kick off. 
Escalate to the Project Manager with plan of action, including impact on time, cost and quality. 
Team managers attending scheduling workshops. 
Open

8
Lack of communication, causing lack of clarity and confusion. 
Medium
Medium
Medium
Project Manager
Write a communication plan which includes: the frequency, goal, and audience of each communication.
Identify stakeholders early and make sure they are considered in the communication plan. Use most appropriate channel of communication for audience e.g. don’t send 3 paragraph email to Developers, have a call instead. 
Correct misunderstandings immediately. Clarify areas that are not clear swiftly using assistance from Project Sponsor if needed. 
Communication plan in progress. 
Open

9
Pressure to arbitrarily reduce task durations and or run tasks in parallel which would increase risk of errors.
Low
High
Medium
Project Manager
Share the schedule with key stakeholders to reduce the risk of this happening.
Patiently explain that schedule was built using the expertise of subject matter experts. Explain the risks of the changes. Share the Dennis Lock quote at Why you should never arbitrarily reduce task durations. 
Escalate to Project Board with assessment of risk and impact of the change.
Hold emergency risk management call with decision makers & source of pressure and lay out risk and impact. 
Awaiting completion of the schedule. 
Open

11
Unresolved project conflicts not escalated in a timely manner
Low
Medium
Medium
Project Manager
Hold regular project team meetings and look out for conflicts. Review the project plan and stakeholder engagement plan for potential areas of conflict.
When aware immediately escalate to Project Board and gain assistance from Project Sponsor to resolve the conflict. 
Project team meetings scheduled. 
Open

12
Business Case becomes obsolete or is undermined by external or internal changes. 
Low
High
High
Project Sponsor
No ability to reduce likelihood, but make sure early warning is given by reviewing business case on regular basis with the Project Board.
Initiate escalation and project close down procedure. 
Project close down procedure confirmed with Project Board. 
Open

13
Delay in earlier project phases jeopardizes ability to meet fixed date. For example, delivery of just in time materials, for conference or launch date. 
Medium
High
High
Project Manager
Ensure the project plan is as accurate as possible using scheduling workshops and work breakdown structure. Use Tracking Gantt and Baseline to identify schedule slippage early. 
Consider insurance to cover costs and alternative supplier as a back up. 
Awaiting completion of the schedule. 
Open

14
Added workload or time requirements because of new direction, policy, or statute
Low
Medium
Medium
Project Sponsor
No ability to reduce likelihood. 
Consider insurance and use Project Board to get advance notice if possible.
Project Board reviewing insurance options. 
Open

15
Inadequate customer testing leads to large post go live snag list. 
High
High
High
Project Manager
Ensure customer prepares test cases/quality checks and protect testing/quality assurance window. 
Raise risk immediately and raise issue if it is clear testing inadequate. Customer could extend testing & bring in additional resource. 
Customer preparing test cases. 
Open

16
Legal action delays or pauses project. 
Low
Medium
Medium
Project Sponsor
Ensure all contracts signed before starting the project. Follow all regulatory requirements and complete stakeholder management plan. 
Escalate to Project Board who will notify legal department. Follow instructions from legal. 
Contracts issued. 
Open

17
Customer refuses to approve deliverables/milestones or delays approval, putting pressure on project manager to ‘work at risk’. 
Medium
Medium
Medium
Project Manager
Ensure customer decision maker with budgetary authority is identified before project start and is part of the Project Board. Communicate dates for sign-off points up front. 
Escalate to Project Board and recommend action e.g. to stop the project. 
Customer project manager is confirming their sponsor / senior supplier. 
Open

18
Theft of materials, intellectual property or equipment.
Low
High
High
Project Manager
Follow security procedures, ensure Non-Disclosure Agreements, & compliance certificates are in place. Verify all physical security measures in place. Secure insurance. 
Notify appropriate authorities e.g. police, Project Board and initiate internal investigations. 
NDAs issued. Security certificates confirmed for contractors. 
Open

19
Acts of God for example, extreme weather, leads to loss of resources, materials, premises etc. 
Low
High
High
Project Manager
Check insurance is in place. Familiarise project team with emergency procedures. When cost effective put back up systems in place e.g. generators.
Notify appropriate authorities. Follow health and safety procedures. Notify stakeholders and Project Board. 
Public Liability Insurance confirmed along with additional premises insurance at site B. 
Open

20
Stakeholder action delays project. 
Low
High
High
Project Manager
Identify stakeholders, analyse power and influence and create a Stakeholder Engagement Plan. Project Board to authorise the plan. Revisit the plan at regular intervals to check all stakeholders are managed. Consider getting insurance. 
Notify appropriate authorities and follow internal procedures e.g. for activist demonstrations. 
Stakeholder Analysis in progress. 
Open