Free Risk Register Template
Excel, Sheets & PDF
A professional, ready-to-use risk register with 15 pre-filled example risks across 8 categories, automatic colour-coded scoring, a 5×5 probability-impact heat map, dropdown validation and residual risk tracking. Download in Excel and open in Google Sheets in one click.
Three sheets: Risk Register (15 pre-filled risks, auto-scoring, dropdowns), Risk Matrix (5×5 heat map with risks plotted), and Instructions (step-by-step guide). Scores calculate automatically. RAG colours update instantly. Fully editable.
Risk score = Probability (1–5) × Impact (1–5) — colour updates automatically
Download Free Template
Excel (.xlsx) · Works in Google Sheets too
- 15 pre-filled risks across 8 categories
- Auto-scoring: Prob × Impact = Score
- RAG colours update automatically
- 5×5 probability-impact heat map
- Dropdown validation on all key fields
- Residual risk tracking (post-response)
- Risk count summary row
- 30 blank rows for your own risks
- Step-by-step instructions sheet
What's Inside — All 15 Columns Explained
Every column in the risk register serves a specific purpose. Here's exactly what each one captures and why it matters.
| Column | What It Captures | Notes |
|---|---|---|
| ID | Unique risk identifier (R-001, R-002…) | Pre-filled — use for cross-referencing in status reports |
| Category | Risk type: Scope, Resource, Schedule, Budget, Quality, Technical, Stakeholder, External | Dropdown menu — select from 10 categories |
| Risk Description | Clear statement of the risk event and its potential impact | Write as "If [event], then [consequence]" for clarity |
| Risk Owner | Person accountable for executing the response plan | Must not default to PM for all risks |
| Probability (1–5) | Likelihood of the risk occurring | Dropdown: 1=Rare, 2=Unlikely, 3=Possible, 4=Likely, 5=Almost Certain |
| Impact (1–5) | Severity if the risk materialises | Dropdown: 1=Negligible to 5=Catastrophic |
| Risk Score | Probability × Impact — auto-calculated | Colour updates automatically: Green/Yellow/Orange/Red |
| Rating | Low / Medium / High / Critical | Auto-colours based on score threshold |
| Response Strategy | Avoid / Mitigate / Transfer / Accept / Escalate | Dropdown menu |
| Response Action | Specific steps to execute the response | Must name who does what by when |
| Contingency Plan | What to do if the risk materialises despite the response | Pre-plan this — don't improvise under pressure |
| Residual Prob | Probability after response actions are in place | Should be lower than original probability |
| Residual Impact | Impact after response actions are in place | Some risks can't reduce impact — only probability |
| Residual Score | Residual Prob × Residual Impact — auto-calculated | Shows the remaining risk exposure after mitigation |
| Status | Open / In Progress / Closed / Cancelled | Dropdown — Open risks highlighted in violet |
How Risk Scoring Works in This Template
The risk score is calculated automatically as Probability × Impact. Both are rated on a 1–5 scale. The resulting score (1–25) maps to a colour-coded rating that updates instantly when you change either input.
Probability Scale (Column E)
1 — Rare: Less than 10% chance of occurring. The risk event is theoretically possible but very unlikely given the project context. 2 — Unlikely: 10–30% chance. Has happened on similar projects but not expected here. 3 — Possible: 30–60% chance. Could easily happen — essentially a coin flip. Flag all 3s for close attention. 4 — Likely: 60–80% chance. Expected to happen unless actively managed. 5 — Almost Certain: Greater than 80% chance. Treat as an issue, not just a risk.
Impact Scale (Column F)
1 — Negligible: Minor disruption, easily absorbed. 2 — Minor: Small schedule or cost impact manageable within contingency. 3 — Moderate: Noticeable impact on one or more project constraints requiring sponsor awareness. 4 — Major: Significant impact on schedule, budget or scope requiring formal change control. 5 — Catastrophic: Project failure, major financial loss, reputational damage or regulatory breach.
The Five Risk Response Strategies
Choosing the right response strategy is one of the most important decisions a PM makes. Here's when to use each one.