Templates
Risk analysis template

Risk analysis template

Streamline your risk management process with our detailed risk analysis template. Identify potential threats, prioritize actions, and enhance decision-making.

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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or Download template as PDF
Risk analysis template

Streamline your risk management process with our detailed risk analysis template. Identify potential threats, prioritize actions, and enhance decision-making.

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 risk analysis template moves beyond simple risk identification to provide a comprehensive project risk management system. What makes it distinctive is its structured progression from initial project context through risk identification, assessment, response planning, and ongoing monitoring. This creates a dynamic document that evolves with your project.

A McKinsey survey found that chief risk officers were the most concerned about direct financial impact, harm to customers, and reputational damage. With this template, you’ll establish a proactive approach to managing these critical risk factors.

Related categories

Preview of the template
Entity
Page 1
Project Details
Project Name
Project Description
Project Manager
Project Start Date
Project End Date
Risk Identification
Identify potential risks
Risk Assessment
Assess the likelihood of each risk
Assess the impact of each risk
Risk Response Planning
Develop strategies to mitigate or manage each risk
Assign risk owners
Establish risk response actions and timelines
Risk Monitoring and Control
Monitor identified risks
Identify new potential risks
Evaluate the effectiveness of risk response actions

Frequently asked questions

How can I determine the appropriate risk response strategies in this template?

Your risk response strategy should match the risk’s severity and likelihood. For high-impact risks, consider avoidance or transfer strategies like insurance. For moderate risks, focus on mitigation by implementing controls. For low-impact risks, acceptance might be appropriate if the cost of mitigation exceeds potential impact.

How can I ensure my team actually uses this risk analysis template throughout the project?

Integrate the template into your regular project meetings by reviewing it for 10-15 minutes each session. Assign responsibility for maintaining it to a specific team member, and recognize contributions when team members identify new risks. You can also reference it when making key decisions. These practices make risk management an ongoing habit.

What’s a good way to prioritize risks once I’ve completed the assessment section of this template?

Calculate a risk score by multiplying likelihood and impact ratings for each risk. Then sort risks by these scores to create a prioritized list. Focus response planning efforts on risks with the highest scores first. The template’s assessment section captures these ratings, making it easy to identify which risks deserve immediate attention and which can be addressed later or simply monitored.

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.