Free risk register template for Excel and Google Sheets
A risk register records what could go wrong, how likely and how serious it is, who owns it and what you will do about it. This template scores each risk from likelihood and impact and colors the rating.
The .xlsx file opens in Microsoft Excel, LibreOffice Calc and Google Sheets (File, then Import). No macros.
What is in the template
- Columns for risk, category, likelihood, impact, score, rating, owner, response, trigger, status and next review, for 50 risks.
- Likelihood and impact limited to whole numbers from 1 to 5.
- Score and rating calculated for you: High from 15, Medium from 8, Low below 8.
- A Scoring guide sheet that describes each level, so scores mean the same thing to everyone.
- Three example risks you can overwrite.
How to use it
- Run a short risk session at kickoff and write each risk as a cause and its effect.
- Score likelihood and impact with the Scoring guide, not by feel.
- Give every risk one owner and a response you can act on.
- Add a trigger: the sign that the risk is turning into an issue.
- Review High risks weekly and the rest on the dates in the Next review column.
Making the register useful
A register that is filled in once and never opened again does not reduce risk. Put the High risks on your status report every week, and close risks once they can no longer happen.
Change the rating thresholds if they do not suit your project. They live in the formula in the Rating column, and the Scoring guide sheet should be updated to match.
Common questions
What is the difference between a risk and an issue?
A risk might happen; an issue has happened. When a risk's trigger occurs, move it to your issue list or status report and act on it.
Why multiply likelihood by impact?
It gives one number for sorting, so a likely, serious risk rises above an unlikely or minor one. It is a rough guide for attention, not a precise measure.
How many risks should a project have?
Enough to cover the real threats, usually ten to twenty for a mid-sized project. A list of a hundred low risks hides the few that matter.