Risk Assessment Template

Looking for a Risk Assessment Template or a Risk Assessment Matrix? Check out these Risk Management templates and find one that meets your company or industry needs!

By working with a Risk Assessment Template, you are able to manage the company in a better way. This is because you already understand the risks you are facing. By knowing the risks, you are able to anticipate and manage them.

As a responsible person or company, you must carry out and regularly review a general risk assessment. This will make sure you identify and prevent issues in a timely manner.

The following columns are important in a Risk Assessment:

Potential hazard;
Who is at risk?;
Existing control measures;
Risk rating;
Preventive measures;
Responsibilities.

Risks have to be assessed and analyzed. Therefore, the Red, Amber, Green (RAG) status can be useful. You can make an analysis by considering the following for each risk you have:

Likelihood:

Almost certain (e.g. >90% chance);
Likely (e.g. between 50 and 90% chance);
Moderate (e.g. between 1% and 50% chance);
Unlikely (e.g. between 3% and 10% chance);
Rare (e.g. < 3% chance).

Consequences:

Insignificant (Minor problem easily handled by normal day-to-day process);
Minor (Some disruption possible, e.g. Damage equal to $500K);
Moderate (Significant time/resources required, e.g., damage equal to $ 1 MLN);
Major(Operations severely damaged, e.g. Damage equal to $ 10 MLN);
Catastrophic (Business survival is at risk; damage equal to $ 25 MLN),

The outcome can be found in a Risk Assessment Analysis RAG status. Check out the following Risk Assessment Templates and learn more about how to manage your risks in a proper way: