Templates
Project risk analysis template

Project risk analysis template

Plan smarter and reduce uncertainties with our project risk analysis template. Identify potential risks, implement mitigation strategies, and ensure project success.

Use this template with Lumiform

The Lumiform application helps frontline teams uphold internal standards effortlessly.
  • Customize this template or build your own
  • Fill out templates via mobile app
  • Assign and track corrective actions
  • Get reports and analyse your data
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Learn more
or Download template as PDF
Project risk analysis template

Plan smarter and reduce uncertainties with our project risk analysis template. Identify potential risks, implement mitigation strategies, and ensure project success.

Use this template with Lumiform

The Lumiform application helps frontline teams uphold internal standards effortlessly.
  • Customize this template or build your own
  • Fill out templates via mobile app
  • Assign and track corrective actions
  • Get reports and analyse your data
Prices start from ░░░ per month
Book a demo
Learn more
or Download template as PDF

This project risk analysis template guides you through making concrete action plans for handling threats. Unlike basic risk registers that merely list potential issues, this template prompts you to consider risk relationships, establish clear thresholds, and implement ongoing monitoring practices.

Research demonstrates that even basic risk management planning can greatly lessen how much risks affect a project’s chances of success.. When facing that critical project with multiple components and external dependencies, you can better anticipate challenges and assign clear ownership for each risk.

Related categories

Preview of the template
Entity
Page 1
Project Information
Project Name
Project Start Date
Project End Date
Project Manager
Risk Identification
Have all potential risks been identified?
Have key stakeholders been consulted to identify risks?
Have lessons learned from past projects been reviewed?
Have external factors that could impact the project been considered?
Risk Analysis
Have all identified risks been analyzed for likelihood and impact?
Have dependencies and relationships between risks been identified?
Have risk thresholds and tolerance levels been defined?
Have key risk indicators been identified?
Risk Response Planning
Have strategies been developed to mitigate high-priority risks?
Have contingency plans been developed for critical risks?
Have risk owners been assigned for each identified risk?
Have risk response actions been incorporated into the project plan?
Risk Monitoring and Control
Are risks regularly reviewed and updated?
Are risk response actions being implemented as planned?
Are new risks being identified and managed?
Are key risk indicators being monitored?

Frequently asked questions

How do I determine which risks to prioritize in my project risk analysis?

Focus on both likelihood and potential impact when prioritizing risks. Start by rating each risk on these two dimensions, then concentrate your efforts on those with high scores in both areas. Remember that some lower-probability risks with catastrophic consequences may warrant more attention than frequent risks with minimal impact. Adjust your approach based on your project’s specific risk tolerance.

What information should I gather before completing this project risk analysis template?

Before starting, collect your project charter, schedule, budget, stakeholder requirements, and historical data from similar past projects. Interview key team members and stakeholders about their concerns. Review industry-specific risk factors relevant to your project type. This preparation ensures your risk analysis is comprehensive and grounded in both project specifics and valuable experience.

What should I include in the contingency plans for the risk analysis?

Your contingency plans should detail specific actions, required resources, triggers for implementation, and expected outcomes. Avoid vague statements like “find alternative supplier” and instead specify exactly who will contact which pre-vetted suppliers, using what budget authority, and within what timeframe. Good contingency plans are concrete enough to be implemented immediately when needed.

How can I use this template to communicate risks to stakeholders who aren’t risk management experts?

Use the completed template as the foundation for creating visual summaries—like heat maps showing risk severity through color coding or timelines showing when risks might impact the project. Focus stakeholder communications on the highest-priority risks and their potential business impacts, rather than technical details. Translate risk management jargon into terms relevant to your audience’s concerns.

This template, developed by Lumiform employees, serves as a starting point for businesses using the Lumiform platform and is intended as a hypothetical example only. It does not replace professional advice. Companies should consult qualified professionals to assess the suitability and legality of using this template in their specific workplace or jurisdiction. Lumiform is not liable for any errors or omissions in this template or for any actions taken based on its content.