Risk Register

With PRINCE2, a Risk Register plots the impact and probability of identified risks. The data is presented in a table and as a scatterplot.

The Risk Register is utilized as a risk management tool. In some contexts, it can be a vital aspect of fulfilling regulatory compliance for a project.

Risk RegisterExamples of information that goes into the Risk Register:

  • Identified risks
  • Nature of each identified risk
  • A brief description of the risk, unless the name of the risk is sufficient
  • Probability/likelihood of occurrence, expressed on an integer scale
  • Impact/consequence of the event occurring, expressed on an integer scale
  • Risk score/risk rating. Commonly asssessed by multiplying Probability with Impact. Can be used to rank the risks.
  • Mitigation steps
  • An identification number for each risk
  • Trigger, if applicable. (Example: The risk is flooding. The trigger is sudden major snow melting event due to warm weather.)

The risks are grouped together in categories, with each category comprised of similar risk types.

The risk registry is extra important in industries that involves a lot of risks.  A good example of this is FOREX and Binary options trading.  The traders are operating in a high-risk environment and need to consider the risk of every trade they make.   Learn more about Binary options risk management.   Learning more about risk management among binary options traders and poker players can teach you a lot about risk management in general and make you a better project manager.


This is what a Risk Register in table format could look like for a celebration on a boat.

Category Name RBS ID Probability Impact Mitigation Contingency Risk


after Mitigation



Action When
NatureToo windy1.1MediumHighCheck weather forecastReturn to sheltered port2Captain25 knots
NatureRain1.2MediumHighMake sure the roof is in good conditionKeep celebration under the roof2PeterWhen rain clouds become visible
NatureFire onboard1.3LowHighNo open flames allowedUse fire extinguishers1EveryoneImmediately
GuestsThe guests find the party boring2.1.LowMediumHave party games preparedPlay party games1AmandaWithin 1 hour
GuestsSea sickness2.2MediumMediumWarn guests in advace of the riskBring OTC medication for sea sickness1JohnWhen guest is in distress
DrinksRunning out of drinks3.1LowMediumKeep extra supplies below deckBuy more at port1JavierWhen <3 drinks are left for each guest
DrinksRunning out of ice3.2MediumMediumKeep extra in a large cool bagBuy more at port1JavierWhen <2 ice bags are left, if >2 hours are left of the party

Common mitigation steps

  • Identify
  • Analyze
  • Plan response
  • Monitor
  • Control