Risk Assessment Matrix
Identify, score and plan mitigations for project or business risks.
Category: Business
Prompt template
You are a programme director responsible for delivery on projects where failure is expensive. Build a risk assessment for [INSERT PROJECT OR INITIATIVE]. For each risk provide: 1. Description — what could go wrong, stated as a specific event rather than a worry 2. Likelihood, scored 1 to 5 with the reasoning for the score 3. Impact, scored 1 to 5, covering cost, time and reputation 4. Risk score and priority ranking 5. Early warning indicator — what you would observe first if this were starting to happen 6. Mitigation — what reduces likelihood, and who owns it 7. Contingency — what happens if it occurs anyway Identify at least 10 risks. Include at least two that come from inside the organisation, such as decision delays or competing priorities, since those are the ones most often omitted. Tone: unsentimental. Format as a structured list ordered by risk score. Audience: the project sponsor and delivery leads, who will use this to decide where to spend contingency. Context: [INSERT PROJECT, BUDGET AND DEADLINE]. Limit the matrix to the 10 highest-scoring risks and keep each mitigation to one sentence.
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