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PROJ586_W5_Risk_Analysis_Matrix_Workbook.xls
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Instructions

Risk Management Workbook Instructions
This template is to be use for gathering risks, creating plans for how to avoid them (mitigation plans), what to do if they happen (contingency plans),and managing them throughout the project.
The first sheet titled Risk List shows a number of fields to use for gathering the following information about risks.
·         Risk ID is some unique value that identifies the risk.
·         Risk Name is a short description of the risk.
·         Date is when you identified the risk.
·         Rank is a subjective measure of where you and the team place this risk. Rank is generally reevaluated on a weekly basis.
·         Phase is an optional field that you can use to capture the phase that a risk might occur.
·         Prob (Probability) is the percentage chance that the risk will actually occur.
·         Impact is the 1–10 rating of how bad it would be if the risk occurred (1 being not very bad and 10 being very bad).
·         Exp (Exposure) is the product of Prob and Impact. This gives you a relative number to access how much time and effort to give to the mitigation of a risk. For example, a risk might be a 90% Probability but only a 1 for Impact, so its Exposure would only be a .90.
·         Effect is a description of what would happen if the risk occurred. This can be a quick sentence of a detailed set of effects.
·         Mitigation is a description of what steps can be taken to avoid having the risk occur. This is what you will do to try and stop the risk from happening.
·         Trigger Event is a description of how you will know if the risk has occurred.
·         Contingency is the description of what you plan to do if the risk happens. This is how you will try to limit the Impact of the actual occurrence of the risk.
Also included is a sheet in the workbook titled Risk Matrix. This section gives a graphical view of where your risks fall. It graphs Impact against Probability and puts a color code on the various combinations. This is automatically generated based on predetermined formulas using the data entered in the Risk List.
A few things to remember about this template include the following.
·         The sheet called Criteria Sheet is locked because it provides the formulas that drive the graph on the Risk Matrix sheet. If you edit this sheet, the Matrix may no longer work.
·         The Matrix and List sheets are also locked, but only a few cells are protected. On the List sheet, the Exposure cells are protected because they contain a formula. The same goes for the Matrix sheet. The colored matrix itself is protected, but the other cells are not.
&LForm P-4&C &"Arial,Bold"&8Project Manager: Name (816) XXX-XXXX

Risk List

Risk Management Matrix
ID Risk Title Date Rank Phase Prob Impact Exp Effect Mitigation Trigger Event Contingency
1 Risk 1 5/5 1 1 20% 1 0.20 What will happen if the risk occurs? What will you do to try to stop the risk? What do you think will trigger the event? What are your backup plans if the risk should occur?
Risk 2 5/5 1 2 20% 2 0.40 Effect 1 Mitigation1 Trigger 1 Backup Plan
Risk 3 5/5 1 3 20% 3 0.60 Effect2 Mitigation2 Trigger 2 Backup Plan
Risk 4 5/5 1 4 20% 4 0.80 Effect3 Mitigation3 Trigger 3 Backup Plan
Risk 5 5/5 1 5 20% 5 1.00 Effect4 Mitigation4 Trigger 4 Backup Plan
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&LForm P-4&C&"Arial,Bold"&8 Project Manager: Name (816) XXX-XXXX
Release that this risk affects. This could be used for tracking risks specific to a cycle in a spiral development project for example.
Probability that this event will occur
Relative Impact of the event. 1-10
What adverse events can be expected if risk occurs?
What actions can we take to avoid having the risk event occur?
How do we know when the risk event has happened? What indications can we look for?
If the event occurs, what can we do to limit the effects of the risk?
The product of the Prob and Impact fields. Higher numbers are bad.
Date the risk was identified
Rank of this risk. A risk will have a higher rank if it has become more likely, has occurred, or if the team feels it is in some way more important than other risks. This is a subjective measure.

Risk Matrix

Risk Matrix
Impact 9-10 0 0 0 0 0
7-8 0 0 0 0 0
5-6 1 0 0 0 0 Zone Total: 0
3-4 2 0 0 0 0 Zone Total: 0
1-2 2 0 0 0 0 Zone Total: 5
1-20% 21-40% 41-60% 61-80% 81-100%
Probability
&LForm P-4&C&"Arial,Bold"&8 Project Manager: Name (816) XXX-XXXX

CriteriaSheet

Do NOT Edit this sheet. This sheet provides the formulas for the Matrix Sheet
1-2 3-4 5-6 7-8 9-10
1-20% 1-20% 1-20% 1-20% 1-20%
Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result
1% 1 1% 2 2 1% 3 1% 4 2 1% 5 1% 6 1 1% 7 1% 8 0 1% 9 1% 10 0
2% 1 2% 2 2% 3 2% 4 2% 5 2% 6 2% 7 2% 8 2% 9 2% 10
3% 1 3% 2 3% 3 3% 4 3% 5 3% 6 3% 7 3% 8 3% 9 3% 10
4% 1 4% 2 4% 3 4% 4 4% 5 4% 6 4% 7 4% 8 4% 9 4% 10
5% 1 5% 2 5% 3 5% 4 5% 5 5% 6 5% 7 5% 8 5% 9 5% 10
6% 1 6% 2 6% 3 6% 4 6% 5 6% 6 6% 7 6% 8 6% 9 6% 10
7% 1 7% 2 7% 3 7% 4 7% 5 7% 6 7% 7 7% 8 7% 9 7% 10
8% 1 8% 2 8% 3 8% 4 8% 5 8% 6 8% 7 8% 8 8% 9 8% 10
9% 1 9% 2 9% 3 9% 4 9% 5 9% 6 9% 7 9% 8 9% 9 9% 10
10% 1 10% 2 10% 3 10% 4 10% 5 10% 6 10% 7 10% 8 10% 9 10% 10
11% 1 11% 2 11% 3 11% 4 11% 5 11% 6 11% 7 11% 8 11% 9 11% 10
12% 1 12% 2 12% 3 12% 4 12% 5 12% 6 12% 7 12% 8 12% 9 12% 10
13% 1 13% 2 13% 3 13% 4 13% 5 13% 6 13% 7 13% 8 13% 9 13% 10
14% 1 14% 2 14% 3 14% 4 14% 5 14% 6 14% 7 14% 8 14% 9 14% 10
15% 1 15% 2 15% 3 15% 4 15% 5 15% 6 15% 7 15% 8 15% 9 15% 10
16% 1 16% 2 16% 3 16% 4 16% 5 16% 6 16% 7 16% 8 16% 9 16% 10
17% 1 17% 2 17% 3 17% 4 17% 5 17% 6 17% 7 17% 8 17% 9 17% 10
18% 1 18% 2 18% 3 18% 4 18% 5 18% 6 18% 7 18% 8 18% 9 18% 10
19% 1 19% 2 19% 3 19% 4 19% 5 19% 6 19% 7 19% 8 19% 9 19% 10
20% 1 20% 2 20% 3 20% 4 20% 5 20% 6 20% 7 20% 8 20% 9 20% 10
21-40% 21-40% 21-40% 21-40% 21-40%
Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result
21% 1 21% 2 0 21% 3 21% 4 0 21% 5 21% 6 0 21% 7 21% 8 0 21% 9 21% 10 0
22% 1 22% 2 22% 3 22% 4 22% 5 22% 6 22% 7 22% 8 22% 9 22% 10
23% 1 23% 2 23% 3 23% 4 23% 5 23% 6 23% 7 23% 8 23% 9 23% 10
24% 1 24% 2 24% 3 24% 4 24% 5 24% 6 24% 7 24% 8 24% 9 24% 10
25% 1 25% 2 25% 3 25% 4 25% 5 25% 6 25% 7 25% 8 25% 9 25% 10
26% 1 26% 2 26% 3 26% 4 26% 5 26% 6 26% 7 26% 8 26% 9 26% 10
27% 1 27% 2 27% 3 27% 4 27% 5 27% 6 27% 7 27% 8 27% 9 27% 10
28% 1 28% 2 28% 3 28% 4 28% 5 28% 6 28% 7 28% 8 28% 9 28% 10
29% 1 29% 2 29% 3 29% 4 29% 5 29% 6 29% 7 29% 8 29% 9 29% 10
30% 1 30% 2 30% 3 30% 4 30% 5 30% 6 30% 7 30% 8 30% 9 30% 10
31% 1 31% 2 31% 3 31% 4 31% 5 31% 6 31% 7 31% 8 31% 9 31% 10
32% 1 32% 2 32% 3 32% 4 32% 5 32% 6 32% 7 32% 8 32% 9 32% 10
33% 1 33% 2 33% 3 33% 4 33% 5 33% 6 33% 7 33% 8 33% 9 33% 10
34% 1 34% 2 34% 3 34% 4 34% 5 34% 6 34% 7 34% 8 34% 9 34% 10
35% 1 35% 2 35% 3 35% 4 35% 5 35% 6 35% 7 35% 8 35% 9 35% 10
36% 1 36% 2 36% 3 36% 4 36% 5 36% 6 36% 7 36% 8 36% 9 36% 10
37% 1 37% 2 37% 3 37% 4 37% 5 37% 6 37% 7 37% 8 37% 9 37% 10
38% 1 38% 2 38% 3 38% 4 38% 5 38% 6 38% 7 38% 8 38% 9 38% 10
39% 1 39% 2 39% 3 39% 4 39% 5 39% 6 39% 7 39% 8 39% 9 39% 10
40% 1 40% 2 40% 3 40% 4 40% 5 40% 6 40% 7 40% 8 40% 9 40% 10
41-60% 41-60% 41-60% 41-60% 41-60%
Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result
41% 1 41% 2 0 41% 3 41% 4 0 41% 5 41% 6 0 41% 7 41% 8 0 41% 9 41% 10 0
42% 1 42% 2 42% 3 42% 4 42% 5 42% 6 42% 7 42% 8 42% 9 42% 10
43% 1 43% 2 43% 3 43% 4 43% 5 43% 6 43% 7 43% 8 43% 9 43% 10
44% 1 44% 2 44% 3 44% 4 44% 5 44% 6 44% 7 44% 8 44% 9 44% 10
45% 1 45% 2 45% 3 45% 4 45% 5 45% 6 45% 7 45% 8 45% 9 45% 10
46% 1 46% 2 46% 3 46% 4 46% 5 46% 6 46% 7 46% 8 46% 9 46% 10
47% 1 47% 2 47% 3 47% 4 47% 5 47% 6 47% 7 47% 8 47% 9 47% 10
48% 1 48% 2 48% 3 48% 4 48% 5 48% 6 48% 7 48% 8 48% 9 48% 10
49% 1 49% 2 49% 3 49% 4 49% 5 49% 6 49% 7 49% 8 49% 9 49% 10
50% 1 50% 2 50% 3 50% 4 50% 5 50% 6 50% 7 50% 8 50% 9 50% 10
51% 1 51% 2 51% 3 51% 4 51% 5 51% 6 51% 7 51% 8 51% 9 51% 10
52% 1 52% 2 52% 3 52% 4 52% 5 52% 6 52% 7 52% 8 52% 9 52% 10
53% 1 53% 2 53% 3 53% 4 53% 5 53% 6 53% 7 53% 8 53% 9 53% 10
54% 1 54% 2 54% 3 54% 4 54% 5 54% 6 54% 7 54% 8 54% 9 54% 10
55% 1 55% 2 55% 3 55% 4 55% 5 55% 6 55% 7 55% 8 55% 9 55% 10
56% 1 56% 2 56% 3 56% 4 56% 5 56% 6 56% 7 56% 8 56% 9 56% 10
57% 1 57% 2 57% 3 57% 4 57% 5 57% 6 57% 7 57% 8 57% 9 57% 10
58% 1 58% 2 58% 3 58% 4 58% 5 58% 6 58% 7 58% 8 58% 9 58% 10
59% 1 59% 2 59% 3 59% 4 59% 5 59% 6 59% 7 59% 8 59% 9 59% 10
60% 1 60% 2 60% 3 60% 4 60% 5 60% 6 60% 7 60% 8 60% 9 60% 10
61-80% 61-80% 61-80% 61-80% 61-80%
Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result
61% 1 61% 2 0 61% 3 61% 4 0 61% 5 61% 6 0 61% 7 61% 8 0 61% 9 61% 10 0
62% 1 62% 2 62% 3 62% 4 62% 5 62% 6 62% 7 62% 8 62% 9 62% 10
63% 1 63% 2 63% 3 63% 4 63% 5 63% 6 63% 7 63% 8 63% 9 63% 10
64% 1 64% 2 64% 3 64% 4 64% 5 64% 6 64% 7 64% 8 64% 9 64% 10
65% 1 65% 2 65% 3 65% 4 65% 5 65% 6 65% 7 65% 8 65% 9 65% 10
66% 1 66% 2 66% 3 66% 4 66% 5 66% 6 66% 7 66% 8 66% 9 66% 10
67% 1 67% 2 67% 3 67% 4 67% 5 67% 6 67% 7 67% 8 67% 9 67% 10
68% 1 68% 2 68% 3 68% 4 68% 5 68% 6 68% 7 68% 8 68% 9 68% 10
69% 1 69% 2 69% 3 69% 4 69% 5 69% 6 69% 7 69% 8 69% 9 69% 10
70% 1 70% 2 70% 3 70% 4 70% 5 70% 6 70% 7 70% 8 70% 9 70% 10
71% 1 71% 2 71% 3 71% 4 71% 5 71% 6 71% 7 71% 8 71% 9 71% 10
72% 1 72% 2 72% 3 72% 4 72% 5 72% 6 72% 7 72% 8 72% 9 72% 10
73% 1 73% 2 73% 3 73% 4 73% 5 73% 6 73% 7 73% 8 73% 9 73% 10
74% 1 74% 2 74% 3 74% 4 74% 5 74% 6 74% 7 74% 8 74% 9 74% 10
75% 1 75% 2 75% 3 75% 4 75% 5 75% 6 75% 7 75% 8 75% 9 75% 10
76% 1 76% 2 76% 3 76% 4 76% 5 76% 6 76% 7 76% 8 76% 9 76% 10
77% 1 77% 2 77% 3 77% 4 77% 5 77% 6 77% 7 77% 8 77% 9 77% 10
78% 1 78% 2 78% 3 78% 4 78% 5 78% 6 78% 7 78% 8 78% 9 78% 10
79% 1 79% 2 79% 3 79% 4 79% 5 79% 6 79% 7 79% 8 79% 9 79% 10
80% 1 80% 2 80% 3 80% 4 80% 5 80% 6 80% 7 80% 8 80% 9 80% 10
81-100% 81-100% 81-100% 81-100% 81-100%
Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result Prob Impact Prob Impact Result
81% 1 81% 2 0 81% 3 81% 4 0 81% 5 81% 6 0 81% 7 81% 8 0 81% 9 81% 10 0
82% 1 82% 2 82% 3 82% 4 82% 5 82% 6 82% 7 82% 8 82% 9 82% 10
83% 1 83% 2 83% 3 83% 4 83% 5 83% 6 83% 7 83% 8 83% 9 83% 10
84% 1 84% 2 84% 3 84% 4 84% 5 84% 6 84% 7 84% 8 84% 9 84% 10
85% 1 85% 2 85% 3 85% 4 85% 5 85% 6 85% 7 85% 8 85% 9 85% 10
86% 1 86% 2 86% 3 86% 4 86% 5 86% 6 86% 7 86% 8 86% 9 86% 10
87% 1 87% 2 87% 3 87% 4 87% 5 87% 6 87% 7 87% 8 87% 9 87% 10
88% 1 88% 2 88% 3 88% 4 88% 5 88% 6 88% 7 88% 8 88% 9 88% 10
89% 1 89% 2 89% 3 89% 4 89% 5 89% 6 89% 7 89% 8 89% 9 89% 10
90% 1 90% 2 90% 3 90% 4 90% 5 90% 6 90% 7 90% 8 90% 9 90% 10
91% 1 91% 2 91% 3 91% 4 91% 5 91% 6 91% 7 91% 8 91% 9 91% 10
92% 1 92% 2 92% 3 92% 4 92% 5 92% 6 92% 7 92% 8 92% 9 92% 10
93% 1 93% 2 93% 3 93% 4 93% 5 93% 6 93% 7 93% 8 93% 9 93% 10
94% 1 94% 2 94% 3 94% 4 94% 5 94% 6 94% 7 94% 8 94% 9 94% 10
95% 1 95% 2 95% 3 95% 4 95% 5 95% 6 95% 7 95% 8 95% 9 95% 10
96% 1 96% 2 96% 3 96% 4 96% 5 96% 6 96% 7 96% 8 96% 9 96% 10
97% 1 97% 2 97% 3 97% 4 97% 5 97% 6 97% 7 97% 8 97% 9 97% 10
98% 1 98% 2 98% 3 98% 4 98% 5 98% 6 98% 7 98% 8 98% 9 98% 10
99% 1 99% 2 99% 3 99% 4 99% 5 99% 6 99% 7 99% 8 99% 9 99% 10
100% 1 100% 2 100% 3 100% 4 100% 5 100% 6 100% 7 100% 8 100% 9 100% 10
&LForm P-4&C&"Arial,Bold"&8 Project Manager: Name (816) XXX-XXXX