Risk and issue register

The risk and issue register is a live document, updated regularly throughout the project and reviewed with the project board on a regular basis.

The project manager is responsible for the reporting, monitoring and managing of the project risk and issue register. This register is an important component of the project's management and control mechanism.

The appointed board will have accountability for the review of the project risk and issue register and be required to assess the severity of the risks/issue and provide support for appropriate resolution.

Risk register

A risk is defined as an uncertain event, that should it occur, will have an effect on the project and its deliverables. A risk can be seen as a threat to the project or an opportunity for consideration by the board.

The risk register is the record of all identified risks relating to the project. Each risk is reported by status in terms of severity, its potential impact to the project and the likelihood of the risk occurring.

Issue register

An issue is an event that has happened, that was not planned, and requires management action.

As a project progresses, it may encounter issues that will need to be assessed for severity and impact to the project deliverables.

The issue register is used to capture and maintain information on all of the issues that are raised and are formally being managed and controlled.