Appendix 3 Project Risk Assessment Template – Project Title Period: March 2010 Project Description / / Background Please describe the key aspects of the project to clarify the nature , background and scope of the project Risk Category Select the risk category Requirements Benefits Schedule Budget Deliverables Scope being considered Issues Suppliers Acceptance Communication Resource Other Project Risks / Issues - Budget Consequence: Likelihood: Consequence Likelihood Rating: Consider a workshop during the Quantitative and qualitative List the issues that would affect the Rating: “Risk E.g. Medium -Using Planning” stage, involving each of the likelihood of the risk eventuating List all the potential consequences of E.g. High -Using the the scoring system key project stakeholders (project each risk scoring system below, what is the sponsor, manager, team, suppliers, List the consequences in $ terms, to below, what is the probability of the risk customer), to identify risks enable better judgement in the decision potential impact of the eventuating List the likely risks, which may affect making process. E.g. The project risk the project, consider each risk exceeds the allocated budget by $500k category Score: Score: 40 60 Current Controls are controls in place) Future Mitigating Actions Responsibility Action Date List all controls in place that would limit our exposure to the risk occurring (i.e. List all Preventative actions (reduce possibility List responsible List due date for reduce the likelihood of the risk occurring and reduce the potential consequence of risk occurring) and Contingent (reduce the persons for each each action of the risk) impact) including estimated completion action and accountability for each action. How are these controls enforced (Who, when, how evidenced?) 50 (ave of above) Moderate Priority Risk Rating - Priority equals average of Likelihood and Consequence scores. After considering the above controls - in place only ) Matters for consideration List any other matters for consideration that are relevant to the decision as to whether the University should accept the risk Issues for insurers For Risk Administrator to complete Accept, Mitigate, Transfer or Avoid Risk decision Prepared and recommended by: xxx Reviewed and endorsed by: Xxx Date Date Approved PVC Administration Date
Appendix 3 – Project Risk Assessment Template Project Title Period: March 2010 Project Description / / Background Please describe the key aspects of the project to clarify the nature , background and scope of the project Risk Category Select the risk category being considered Requirements Benefits Schedule Budget Deliverables Scope Issues Suppliers Acceptance Communication Resource Other Project Risks / Issues - Budget Consider a workshop during the “Risk Planning” stage, involving each of the key project stakeholders (project sponsor, manager, team, suppliers, customer), to identify risks List the likely risks, which may affect the project, consider each risk category Consequence: Quantitative and qualitative List all the potential consequences of each risk List the consequences in $ terms, to enable better judgement in the decision making process. E.g. The project exceeds the allocated budget by $500k Likelihood: List the issues that would affect the likelihood of the risk eventuating Consequence Rating: E.g. High -Using the scoring system below, what is the potential impact of the risk Likelihood Rating: E.g. Medium -Using the scoring system below, what is the probability of the risk eventuating Score: 40 Score: 60 Current Controls are controls in place) Future Mitigating Actions Responsibility Action Date List all controls in place that would limit our exposure to the risk occurring (i.e. reduce the likelihood of the risk occurring and reduce the potential consequence of the risk) How are these controls enforced (Who, when, how evidenced?) List all Preventative actions (reduce possibility of risk occurring) and Contingent (reduce the impact) including estimated completion and accountability for each action. List responsible persons for each action List due date for each action Priority Risk Rating - Priority equals average of Likelihood and Consequence scores. After considering the above controls - in place only ) 50 (ave of above) Moderate Matters for consideration List any other matters for consideration that are relevant to the decision as to whether the University should accept the risk Issues for insurers For Risk Administrator to complete Risk decision Accept, Mitigate, Transfer or Avoid Prepared and recommended by: xxx Reviewed and endorsed by: Xxx Date Date Approved PVC Administration Date
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