A simple key risks register: each risk and its consequences, a rating, the controls in place and the rating left once those controls are counted.
This register template is supplied in fully editable MS Word format and can be easily customised and edited. The document uses pre-defined style formatting throughout, with all text in Calibri font for improved readability.
The following document labelling is included in the footer:
- Register number and title
- Information-classification
- Version
- Page number / total pages
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Risks Register Template
The Risks Register is a Word template that gives an overview of the key risks faced by your organisation and reviews the controls in place to mitigate them. Each risk is rated by likelihood and consequence, the current controls are recorded, and a residual risk rating shows what remains.
What's Included in this Register
- Risk Level Indicator - a likelihood and consequence rating table
- Controls and Residual Risk Rating - guidance on Tolerable, Moderate and Substantial ratings and when further action is needed
- Key Risks Register - each risk and its consequences, the risk rating, the controls currently in place and the residual risk rating
Built for Risk-Based Thinking
- Supports the actions to address risks in clause 6.1 of the ISO management system standards
- Rates risks consistently against one table
- Shows the effect of the controls already in place
- Flags risks that need further action
Who Needs a Risks Register?
Organisations working to ISO 9001, ISO 14001, ISO 45001 or another management system standard that want a simple key risks register in Word, separate from their opportunities.
Using the Register
List the key risks to the business with their consequences and rate each, then record the controls already in place and rate the risk again. Review the register at management review and whenever the business changes.
Keep the register to the key risks, those that could stop the business meeting its objectives, such as losing a major customer or key person, supplier failure, IT or data loss, or a serious accident.
Rating and Responding to Risk
The register includes its own rating guidance. Each risk is rated by likelihood and consequence, and the rating sets the response:
- Tolerable - the risk is acceptable; monitor it and add controls if required
- Moderate - monitor the risk and reduce it if possible
- Substantial - a risk mitigation strategy and additional controls are required
Where the residual risk is still substantial, or not acceptable, once the controls in place are taken into account, further action is raised as a problem or added to the ER1 Issues and Actions Register. The register is updated again when the controls are adequate for the risk to be accepted.
Document Control
The footer carries the register number and title, issue, information classification and page numbering. The register can be listed with your other controlled documents on the F-IMS20 Document Register.
Works with the Opportunities and Risks Register
Other alphaZ documents for managing risk:
Would you rather we prepared it for you?
Our Business Risk Assessment Preparation service writes organisational risk assessments around your business, scored against the controls you actually have in place, so your risk register reflects real risks.
Business Risk Assessment Preparation