1. Risk Management Objectives
- Proactively identify potential threats or uncertainties
- Assess likelihood and impact
- Define mitigation and contingency plans
- Track ownership and follow-up
- Build team awareness and response readiness
2. Risk Assessment Matrix
| Risk ID | Description | Impact | Likelihood | Risk Score | Owner | Mitigation Strategy | Contingency Plan | Status |
| R-001 | Lead Dev leaves mid-project | High | Medium | 12 | PM | Cross-train backup dev | Delay feature; reassign backlog | Open |
| R-002 | Tool license expires during sprint | Medium | High | 9 | Ops | Track renewal date | Manual workaround | Mitigated |
| R-003 | Supplier delay for materials | High | High | 16 | Ops Lead | Order early | Notify sponsor; shift delivery window | Open |
Risk Score = Impact × Likelihood (e.g., 4×4 = 16)
3. Risk Categories
Helps organize risks by area for better prevention.
- Technical – bugs, platform failures, integration issues
- Resource – people, tools, funding constraints
- Schedule – slippage, overcommitment, bottlenecks
- External – vendors, weather, regulations
- Stakeholder – delays in sign-off, misaligned goals
- Operational – delivery gaps, QA defects, rework
4. Risk Scoring Scale (Optional Reference)
| Score | Severity | Action |
|---|---|---|
| 1–4 | Low | Monitor, no action needed |
| 5–9 | Moderate | Mitigate and track |
| 10–16 | High | Escalate, create backup plan |
| 17–25 | Critical | Immediate attention, risk board tracking |
5. Risk Monitoring Process
- Risks reviewed weekly in PM sync
- Owners must update mitigation status
- Dashboard flags high/critical risks
- Add new risks anytime during the project
6. Risk Log (Add new risks below)
Use this as a dynamic section or Notion database table:
| Date Logged | Risk | Category | Owner | Next Review |
| 6/4 | Test environment unstable | Technical | QA Lead | 6/10 |
| 6/4 | Sales targets unclear | Stakeholder | PM | 6/12 |
7. Approval & Sign-Off
| Name | Role | Signature | Date |
| Jane Smith | Project Manager | ✔️ | 6/4 |
| Kevin Lee | Sponsor | ✔️ | 6/4 |