Risk Report
The risk report is a project document that presents information on overall project risk as well as summary information on individual risks. It is progressively developed throughout the risk management processes.
Explanation
The risk report provides a high-level view of the project risk exposure. While the risk register details individual risks, the risk report summarizes the overall risk status, including sources of overall project risk, key risk metrics, and trends. It is a communication tool for stakeholders who need an executive-level understanding of risk.
The report is initially created during Identify Risks with a summary of sources of overall project risk. As risks are analyzed qualitatively and quantitatively, the report is updated with aggregated probability distributions, overall risk exposure levels, and prioritized lists of individual risks.
Stakeholders use the risk report to make informed decisions about risk responses, reserves, and project continuation. It may include visual aids such as risk burndown charts, trend analyses, and summary tables that track risk exposure over time.
Key Points
- •Summarizes overall project risk, not just individual risks
- •Progressively developed across all risk processes
- •Serves as a communication tool for stakeholders and sponsors
- •Includes risk trends, aggregated exposure, and key metrics
Exam Tip
The risk report addresses overall project risk, while the risk register addresses individual risks. Exam questions may test whether you know which document to consult for aggregate vs. individual risk information.
Frequently Asked Questions
Related Topics
Risk Register
The risk register is a project document that records the details of individual project risks, including their identification, analysis results, response plans, and current status.
Identify Risks
Identify Risks is the process of determining which risks may affect the project and documenting their characteristics. It is performed iteratively throughout the project.
Perform Quantitative Risk Analysis
Perform Quantitative Risk Analysis is the process of numerically analyzing the combined effect of identified individual risks and other sources of uncertainty on overall project objectives.
Test your knowledge
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