Project Risk Log Template for project managers and PMOs who need a clear, actionable way to identify, assess, and mitigate risks throughout the project lifecycle.
What's inside
Risk Register table with columns: Risk ID, Description, Likelihood, Impact, Priority, Owner, Mitigation, Due Date, Status
Risk Overview section to capture project metadata and risk context
Risk Mitigation Notes to document concrete actions per risk
Review Cadence to schedule regular risk reviews and updates
How to use this template
Copy this template into your workspace and rename [Project Name].
Fill in initial risks with [Description], [Likelihood], [Impact], [Owner], and [Due Date].
Assess each risk to assign a priority (P1, P2, etc.).
Add a concrete mitigation plan and an owner responsible for execution.
Schedule regular risk reviews and keep the log updated with new information.
Share the log with stakeholders and adjust as project conditions change.
Why it works
How is risk priority determined?
Priority is derived from Likelihood and Impact; high combined scores get P1, medium scores get P2, and low scores get P3. This keeps triage deterministic and fast.
Who should own risks?
Assign a single risk owner per risk and escalate when needed to ensure timely mitigation.
How often should the log be updated?
Update after each risk review, after changes in risk status, or when new risks are identified.