Risk register template NZ

Using the template’s dual assessment approach, evaluate both likelihood and impact for each risk. Focus first on risks rated “High” or “Very High” likelihood combined with “Major” or “Catastrophic” impact. This prioritization helps you allocate resources to the most critical risks first while maintaining awareness of all identified hazards.

Gather information from multiple sources including incident reports, near-miss data, worker feedback, and industry standards. Look for patterns and underlying factors rather than symptoms. Ask “why” repeatedly to dig deeper into each risk scenario. Consider using techniques like fishbone diagrams to visualize contributing factors systematically.

Focus on describing both immediate and long-term consequences across different categories: human impacts (injuries, health effects), operational impacts (downtime, productivity loss), financial impacts (costs, penalties), compliance impacts (regulatory violations), and reputational impacts. Be specific about severity and scope to enable accurate risk assessment.

Your mitigation strategies should be specific, measurable, and actionable. Include exactly what will be done, what resources are required, and how effectiveness will be measured. For example, avoid vague statements like “provide training” and instead specify “conduct monthly hands-on equipment safety training with competency verification for all operators.”