A risk register is a way for organisations to register and assess risk. It is a tool often used in project planning and organisational risk assessment and will in some organisations be referred to as a risk log.
The risk log is widely used within risk management and can be seen both as a proactive and reactive tool.
The log will ensure that people involved in a project or organisation will be forced to consider the risk inherent within it.
It will also enable the organisation, should an accident occur, to demonstrate that steps where talking to consider and minimise risk associated with a project.
The risk log can take different forms, some will assign probabilities and impact values to each risk and calculate a risk score and some will mainly mention the risk and steps taken to avoid each risk.
What is important is to consider:
- What are the risks?
- Who could be harmed and how would they be harmed?
- What have been done to minimize the risk?
- What could further be done?
- Who are responsible for acting on it?
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