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Project Risk Register and Mitigation Tracker (Excel Template)

The Project Risk Register and Mitigation Tracker is an Excel tool for managing project risks from the time they are identified until they are closed. Each risk is recorded in one row of the register with its cause and possible consequence. The user scores its likelihood and impact from 1 to 5, and the template multiplies them into a score from 1 to 25. It then rates the risk as Low (1–4), Medium (5–9), High (10–15) or Extreme (16–25). Each risk is given a risk owner and a response strategy (avoid, reduce, transfer or accept), together with the mitigation measures, the person responsible for the action, a target date and progress. The template marks actions that are overdue or due within 14 days. The user then scores the residual risk, meaning the level expected once mitigation is in place, and the template calculates how much the risk has been reduced. To keep risks under watch, the register sets the next review date from the residual rating: weekly for Extreme risks, every two weeks for High, monthly for Medium and quarterly for Low. Each review is recorded in the Review Log, which shows whether the risk is rising or falling. The Dashboard turns the register into a management summary: key figures, heat maps before and after mitigation, the highest-priority open risks and overdue actions. This makes the template ready for project meetings, steering committee reports, and monitoring and evaluation reviews.