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Risk Matrix for Construction Company

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					                                    Track the risks of your project

Risk management is an important part of any project. It is essential for a project manager to
anticipate things that could go wrong and then try to make plans for both how to avoid them
(mitigation plans) and also what to do if they do happen (contingency plans). This Excel template
is a good tool to use for gathering risks and managing them throughout your project.

The first sheet shows a number of fields for gathering information about your 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.
• Priority is a subjective measure of where you and the team place this risk. Priority is generally
reevaluated on a weekly basis.
• Phase or release is an optional field that you can use to capture the release or phase that a risk
might occur.
                                                                                The
• Prob (Probability) is the percentage chance that the risk will actually occur.
 Probability is a subjective figure ba
• Impact is the 1–10 rating of how bad it would be if the risk occurred (1 being low
and 10 being high).
• 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 percent 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.
• Responsibility ,the name of the person who is assigned for this particular risk id has to be filled here.
• Current status to know the status of the risk like open/closed/not applicable is to be entered in his field.
• Threshold values : The tolerence limit must be identified by the PM to withstand the risk and escalate the risk to th
Threshold values can be entered based on the Exposure of the risk. If the exposure value is in red zone of risk m
value become 1-high ,if it is in yellow zone then 2-medium and if the risk exposure is in green zone then 3-lo

• Cost Benefit analysis for mitigation: Conduct cost benefit analysis for the mitigation plan and fill the result in the re

• Resolution Strategy : The resoultion strategy has to identified between the options given like avoidence,mitigation,

• Also included is a sheet in the workbook called 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.
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.
TBQ: Taxonomy Based Questionnire can be used to find out the risks. In TBQ
risks were mentioned. The project manager can use this sheet and conduct a session for identification of risk.
essential for a project manager to
 plans for both how to avoid them
ontingency plans). This Excel template
m throughout your project.

 mation about your risks:




 m place this risk. Priority is generally

capture the release or phase that a risk

                    The
will actually occur.
 Probability is a subjective figure based on PM's judgement.
k occurred (1 being low

 ives you a relative number to
of a risk. For example, a risk might
 xposure would only be a .90.
 curred. This can be a quick

avoid having the risk occur. This is


he risk happens. This is how you

or this particular risk id has to be filled here.
osed/not applicable is to be entered in his field.
 by the PM to withstand the risk and escalate the risk to the top management. The
of the risk. If the exposure value is in red zone of risk matrix then the threshold
ium and if the risk exposure is in green zone then 3-low.

 t analysis for the mitigation plan and fill the result in the respective filed.

 ified between the options given like avoidence,mitigation,transfer or accptance.Either one of these has to be filled.

 ix. This section gives a graphical
 ability and puts a color code on the


 des the formulas that drive the
Matrix may no longer work.
w cells are protected. On the List
 ain a formula. The same goes for
 the other cells are not.
                         All the sources and categories of
heet and conduct a session for identification of risk.
                                                                                                                                                      Risk Tracker Sheet
                                                                  Date   Priority      Phase         Prob   Impact    Exp
ID       Risk Description        Sources of the risk   Category                                                                                Effect                                Mitigation

                                                                                                                                                                     Identify resources at risk of being pulled
     Resources could be pulled                                                                                               Tasks will not be able to be finished   and put their work as early as possible. Also
1                                                                 3/1     High      All the phases   100%    10      10.00
     for other projects                                                                                                      according to plan                       see if alternate resoruces can be found for
                                                                                                                                                                     skills at risk




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                                                           Date   Priority   Phase    Prob   Impact   Exp
ID   Risk Description   Sources of the risk   Category                                                      Effect   Mitigation




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                                     Project Manager:
                                   Last Updated Date:

                                                                                Current Status                          Risk Revisiting
   Trigger Event                    Contingency             Responsibility                       Threshold values                         Cost Benefit Analysis for mitigation
                                                                                Open/Close/NA                             frequency

                        Rescheule affected work                                                                     1
Resource is pulled to
                                                           HR                open
other project
                        Reassign work to other resources




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                                                            Current Status                      Risk Revisiting
Trigger Event          Contingency         Responsibility                    Threshold values                     Cost Benefit Analysis for mitigation
                                                            Open/Close/NA                         frequency




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       Risk resolution strategy   Remarks



Avoidence




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Risk resolution strategy   Remarks




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Risk Matrix

                   0       0         0         0       1
         9-10

                   0       0         0         0       0
         7-8
Impact




                                                              Zone Total:
                   0       0         0         0       0
         5-6                                                      1
                                                              Zone Total:
                   0       0         0         0       0
         3-4                                                      0
                                                              Zone Total:
         1-2
                   0       0         0         0       0          0
                1-20%   21-40%    41-60%   61-80%   81-100%
                                 Probability
Do NOT Edit this sheet. This sheet provides the formulas for the Matrix Sheet

              1-2                                 3-4                                 5-6                                7-8
             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
 1%      1     1%      2    0      1%     3       1%       4      0      1%     5    1%       6    0      1%     7


             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
21%      1    21%      2    0      21%    3       21%      4      0      21%    5    21%      6    0      21%    7


             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
41%      1    41%      2    0      41%    3       41%      4      0      41%    5    41%      6    0      41%    7


             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
61%      1    61%      2    0      61%    3       61%      4      0      61%    5    61%      6    0      61%    7


             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
81%      1    81%      2    0      81%    3       81%      4      0      81%    5    81%      6    0      81%    7
 7-8                               9-10
1-20%                             1-20%
Prob Impact Result   Prob   Impact Prob Impact Result
 1%       8   0      1%       9     1%      10   0


21-40%                            21-40%
Prob Impact Result   Prob   Impact Prob Impact Result
 21%      8   0      21%      9    21%      10   0


41-60%                            41-60%
Prob Impact Result   Prob   Impact Prob Impact Result
 41%      8   0      41%      9    41%      10   0


61-80%                            61-80%
Prob Impact Result   Prob   Impact Prob Impact Result
 61%      8   0      61%      9    61%      10   0


81-100%                           81-100%
Prob Impact Result   Prob   Impact Prob Impact Result
 81%      8   0      81%      9    81%      10   1
       Taxonomy Based Questionnaire

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                                                           Taxonomy Based Questionnaire

TBQ

Proposaling

Are the requriments listed in the proposal is very hard to understand?
Is the estimation in the proposal is unrealistic?
Is the acceptance criteria is mentioned clearly In the proposal?
Is the contract being reviewed and approved?
Is there any possibility of loosing the opportunity?

Requriments Phase

Is there any scope creep from proposal and Estimate
Is there any bad definition of requirements or gaps?
Is the requriments are changed in the middle of the project?
Is all the Non-Functional requriments are specified?
Does the instructor have unwritten
requirements/expectations? Consider the risk if some project requirements were given to you verbally
Are there any requirements that are technically difficult to implement?

Design Phase

 Are there any specified algorithms that may not (or only partially) satisfy the requirements?
Are the architecture design choices are limited or less appropriate?
Is the project design is adequate?
Are the technology choice is keeps changing?
Is the design is suffice to trace the requriments back? Meaning is the design is traceable back to req.
Are the USP and UTP are detailed enough?
Is there sufficient Time & resource availability permit preparation of USP & UTP per each requirement
 Are there any requirements or functions that are difficult to design?
 Are the internal and external interfaces well defined?Consider the risk of complex or numerous connections
between components or systems
 Are there any problems with the expected performance, or quality, of the design?Consider the risk of
inadequate response or turnaround time, or lack of functionality
Does the development or target hardware limit your ability to meet any requirements?Consider the risk of
limitations on hardware speed, size, availability and functionality
  Is the software going to be easy to test?Consider the risks of high complexity and what that may do in
testing the product.
 Does re-used or re-engineered software exist?Consider the risk that re-used software that needs
modification may cause more problems than designing original software

Project Management

is there any Lack of end to end ownership of customer promises
Is the plan is complete?
Is the project manager is having sufficient project management skills
Is there Lack of coordination between stakeholders
Is there any Room Poor scope & change management
Lack of domain skills
Is there any Risks related to incorrect/incomplete/disagreement (no sign off) definition of scope (including
functionality, architecture, deployment, performance)
Is there any Risks related to mismatch in development, test, and deployment environments
Is there any Risks related to significant change of scope
Is there any Risks related to wrong estimation of budgets/costs
Is there any Risks related to changes to be done to client business process for implementing the solution

Is there any Risks related to gaining user acceptance to the deliverable
Is there any Risks related to delays in decision making
Is there any Risks related to timely review and sign off on deliverables
Is there anyRisks related to tight time frames and non-availability of slack
Is there any Risks related to non-achievable schedule that is promised during sales cycle. This schedule
could be w.r.t. any phase of the project including testing, training, UAT, etc.
Is there any Risks related Configuration goof ups

Construction Phase

 Are the design specifications in sufficient detail to write the code?Consider the risk if the design is too high
level
Is the design changing while coding is being done?Consider the scope of the changes; large changes could
cause wasted coding effort
Is the language suitable for producing the software of this program?Consider the risk of using a relational
language to crunch numbers (extreme case)
Does your team have enough experience with the development language, platform or tools?Consider the
risk if your team is not well represented in these areas
  Is there are risk that a key component or module will not be complete or on schedule?Consider the risk, for
example, that a parsing component is incomplete in the late coding phase
 Do you have a plan for configuration management of the code?Consider the risk if there is no revision
control or there is uncontrolled code modification

Testing Phase
Risk related to lack of appropriate tools
Risk related to Test environment does not simulate deployment environment
Risk related to Do not test non-functional requirements like performance, ease of use, etc
Risk related to inadequate test cases
Consider the risk related to of meeting the schedule and getting sufficient testing coverage
Have acceptance criteria been agreed to for all requirements?
 Is there any problem with developing realistic scenarios and test data to demonstrate any requirements?

Staffing

· Risks related to staffing (non) availability at BCT and Client (staff may not be provided, may have other
works, may not have necessary skills, retention is a problem, need for staff for non-scheduled work)

· Risks related to skills levels of various stakeholders/participants
· Risks related to Client’s level of awareness of basic computer skills

Data Migration /Interfaces risks:

· Risks related to data conversion, migration
· Risks related to third party interfaces, integrations

Priority/Importance Risks:

· Risks related to the impact Client’s other initiatives have on the implementation of this project
· Risks related to the speed/effectiveness of our communication channels with sales/client personnel
· Risks related to key client as well as BCT decision making level personnel’s attitude to the BCT onsite
team as well to the project initiative
· Risks related to Client’s culture, political environment

Hardware/Software/Networking Risks:
· Risks related to hardware, networking, software (non) availability at Client’s place to handle the
test/production loads

Any other project specific risks
onnaire

          Risk identified   Remarks
          Yes/No/NA
                                            Risk Database
This database presents those risks that have materialised in the company since dd/mm/yyyy
This should be used by the Project Manager while planning for the project.
Database Owner:                                              Last updated on:

Risk ID         Date Raised     Raised By Received By     Description of risk
company since dd/mm/yyyy
he project.
 t updated on:

                 Description of impact   Project Code Reference where occurred   Action taken

				
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