Workflow Templates: Project Risk Management Checklist

Review project scope and objectives to identify potential risks

Conduct a risk brainstorming session with the project team and stakeholders

Analyze historical data from previous similar projects

Perform qualitative risk analysis to assess the impact and likelihood of identified risks

Undertake quantitative risk analysis where necessary to measure the potential impact on project objectives

Prioritize risks based on their potential impact and probability of occurrence

Develop strategies for risk avoidance, mitigation, transfer, or acceptance

Assign risk owners for each identified risk to ensure accountability

Create risk response plans detailing actions, triggers, and resources required

Implement risk response plans and monitor risk triggers as part of regular project management

Periodically review and reassess the risk management plan to account for new risks and changes

Report on risk status and issues to project stakeholders at regular intervals

Establish a risk communication plan that defines how and when risks are communicated to stakeholders

Ensure clear, consistent, and regular communication about risks to all project team members

Document all risk assessment findings and decisions for transparency and future reference

Project Risk Management Checklist