Project Risk Log Template

Wilmont's Pharmacy Drone Project

Rev: 00, Date: 15th Apr 2020
Dates Analysis Impact
Risk ID Priority WBS Responsible Person Risk Description
Likelihood Prior to After
Open Closed Impact Rating Severity Mitigation Strategy Contingency Status
Rating Mitigation Mitigation
The design of the system is not
1 2 1.2.1. William Holt
approved by the customer
Double check design. Have independent
04.06.20 5 3 15 > 4 weeks delay < 1 weeks delay $5,000.00
design review.
The actual cost of the project
2 1 1.2.2. Luis Villegas
exceeds the agreed cost Make an Earned Value Estimate.
04.06.20 5 3 15 > 4 weeks delay < 1 week delay Request a budget forward. Reduce $6,000.00
The customer is not satisfied with
3 2 1.3.4. William Holt unnecessary expenses.
the prototype
Double check design. Have independent
04.06.20 5 2 10 > 4 weeks delay < 1 weeks delay
William Holt, Luis Design is not completed in a Description design review.
4 3 1.2.1.
Villegas timely manner Add schedule contingency in plan to
04.06.20 Health, Safety
3 and the 1 3 > 1 weeks delay 1 day delay allow design to be complete. Add
Impact Rating Scale Cost Schedule Scope Quality
Delay in materials arriving, or Environment additional staff.
5 2 1.3.1. William Holt
5 Very High >$10,000 materials unavailable >20% time increase System will not operate Severe injury or fatality Use expedited shipping. Confirm
> 4 weeks delay
04.06.20 5 3 15 > 2 weeks delay 1 day delay availability with suppliers during design.
4 High <$8,000
William Holt, Luis > 2 weeks
Develop system takesdelay
longer than 10-20% time increase System will not meet specs major impact
6 2 1.3.3. Modify design if required.
3 Moderate <$5,000Villegas expected > 1 weeks delay 5-10% time increase Performance is reduced minor injury or impact
2 Low <$3,000 Add schedule contingency in plan to
Tests find<serious
1 weeks delay
flight errors <5% time04.06.20
increase Some compensation is required insignificant impact
5 3 15 > 4 weeks delay < 1 week delay $5,000.00
7 1 2
Very Low 1.2.1; 1.4.1 <$500
Geral Hasper allow develop system.
ondrones 1 day delay insignificant increase May require correction no impact
Double check design. Have independent
04.06.20 5 1 5 > 4 weeks delay < 1 weeks delay
8 2 1.5.1. Luis Villegas Project is delayed due to weather design review.
Likelihood Rating Scale Description
5 Nearly Certain >80% probability of occurring Add 2-3 extra days for weather. Add
04.06.20 2 4 8 < 1 weeks delay 1 day delay
cost for days off.
4 Likely 50-80% chance of occurring
3 Possible 21-49% chance of occurring
2 Unlikely 1-20% chance of occurring
1 Rare <1% chance of occurring

Likelihood Rating
Severity
1 2 3 4 5

1 1 2 3 4 5

Impact 2 2 4 6 8 10
Rating 3 3 6 9 12 15
4 4 8 12 16 20
5 5 10 15 20 25
Severity = Likelihood Rating x Impact Rating
low
moderate
high