How to use the risk register tool 1 On line 1 of the "Risk Register" worksheet enter the name of the risk assessment or risk review) 2 Enter the date of the risk assessment or risk review in the field on the top right of the spreadsheet 3 At the risk identification stage, enter the reference number of the risk into the "Ref" field 4 Enter the name of the person identifying the risk into the "Risk Raiser" field (optional) 5 Enter the date when the risk was raised or identified. (This could be at the initial stage of assessment or at the review stage) 6 Enter the risk description clearly identifying the nature of the risk (Risk = the chance of something happening which will impact on objectives*) 7 Describe the causes or contributing factors to the risk 8 Describe the consequences if the risk occurs 9 Detail the existing controls in place to manage the risk (not future actions or treatment strategies) 10 Evaluate the effectiveness of the controls using the criteria in the "Risk Assessment Criteria" worksheet 11 Click on the "Risk Categories" field for a list of options to assign the risk to an area. Select the most appropriate area (source) of the risk 12 Click on the consequence field for a list of five options of consequence listed in the "Risk Assessment Criteria" worksheet. Select the assessed risk consequence (with controls in place) 13 Click on the likelihood field for a list of five options of consequence listed in the "Risk Assessment Criteria" worksheet. Select the assessed risk likelihood (with controls in place) 14 The "Risk Level" field will be automatically populated with the level of risk based on the plotting of the risk in the risk matrix in the "Risk Category and Risk Matrix" worksheet 15 The "Risk Score" field will be automatically populated with the risk score based on the plotting of the risk in the risk matrix in the "Risk Area and Risk Matrix" worksheet. Note: the score ranges from 1 to 25 16 Click on the "Risk Accepted Y/N" field for the options. Based on the risk level (refer to "Risk Decision Point" table in the "Risk Category and Risk Matrix" worksheet), select "Yes" or "No" from the list 17 Enter the risk owner. Note: the risk owner must have the responsibility for taking action on, or mitigating the risk 18 Where risk treatment (mitigation) plans are required, enter the risk treatment number from the "Risk Treatment" worksheet. 19 To add blank risk treatment forms, right click on the "Risk Treatment" worksheet and copy. Then rename/renumber the risk treatment 20 Enter the date that when the risk was reviewed (following the risk assessment) 21 Click on the "Status" field for a list of options, "Under treatment", "Under review", or "Treated" 22 Enter the next review date for the review of the risk 23 When updating the risk register, copy the file and archive the old file. This allows the risk register to remain a live and active document. 24 To Rank the risks from highest to lowest, click on the top of Row P so that that whole column is highlighted. Click on the Data tab at the top of the sheet then click on the SORT button. In the sort field select Column P and then sort on values. Select order "Z to A" so that the risks are sorted by the highest scores in the risk register. 25 An example risk register is contained in the Tab, "Example Risk Register" which contains example risks. Try entering new risks or re-assessing example risks using this tab.
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