RAID Risk Management: Manage Your Project's Risk using a RAID Log

RAID Risk management is a balanced way to manage a project’s risk exposure. Find out more here about RAID and best practice.

What does RAID stand for?

RAID stands for Risks, Assumptions, Issues, and Dependencies (these initials make up the “RAID” acronym).

How do I set up a RAID Log?

1. At project kickoff, in a workshop, or via a RAID questionnaire, assemble your RAID items in lists.
2. For each item, assess the priority or severity.
3. Include notes for each item.
4. Assign a status for each item, so that you can categorize them.
3. Assign an owner for each RAID item.
These items can then be organized and managed in your RAID Log (see Template here) .

How do I keep a RAID Log up to date?

Hold routine meetings to review your project RAID Log, to:
1. Update existing RAID items.
2. Add new items.
3. “Close” resolved items.
All the items must be actively tracked and managed to reduce project risk and increase the chances of project success. Project Managers often prioritize the items so that they can focus efforts and actions on the most important.

RAID Logs

Project Managers use a RAID Log Template to help them categorize and prioritize their RAID Risk Management.

In small projects, the Project Manager might “own” all the RAID items. In larger projects, the ownership (i.e. responsibility for resolving each RAID item) may be spread around the team.

Excel RAID Log & Dashboard Template for RAID Risk Management — Excel RAID Log & Dashboard Template for **RAID Risk Management**

Help with RAID Risk Management

Risks (R in RAID) – Your project risks are the “issues waiting to happen”.
1. Ask yourself “What could go wrong?”, and the list of items in answer to that are your risks.
2. Project Managers often use the phrase “There is a risk that …”
Assumptions (A in RAID) – Assumptions are items that you are relying on – good and bad,… but that may not be.
1. Assumptions are aspects of the environment, or of the surroundings to your project that you believe will be in a certain state.
2. The purpose of tracking assumptions is that you need to be prepared for your assumptions being wrong.
Issues (I in RAID) – Issues are the things which are actually going wrong – i.e. Risks that have been realised, and have turned into issues.
1. If you were lucky with your Risks identification earlier, you may already be prepared to deal with the issues 🙂
Dependencies (D in RAID) – Dependencies are items being delivered- or supplied- from elsewhere, and that may not be directly in your control.
1. i.e. in order for your project to deliver, your dependencies must be present / delivered / supported.
2. Dependencies are quite frequently what cause project failure – track these carefully!

Are you short on time?

Use these templates to help with this Best Practice:

RAID Log Excel Template

This RAID Log Excel Template helps you track detailed Risks, Assumptions, Issues and Dependencies and presents them on a summary Dashboard for easy understanding. Great for Board Reports and Status Reports.

See: RAID Log Excel Template

Risk Management Template Discount Bundle

Whether your products and projects are going well, or if they are in crisis, you need to proactively manage your project risk. This bundle gives you all the tools to manage, plan and react to changes in Risk exposure. Risk logs to DRP plans – they are all here.

See: Risk Management Template Discount Bundle

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