Read about RAID Log from the experts. Get your RAID log working for you, and get on top of those Risks and Issues!
RAID is an acronym that stands for Risks, Assumptions, Issues, and Dependencies. RAID Logs are used to stay in control of a project, as every project changes as you move through it. You use a RAID Log to track the status of a list of these items, and track actions for particular people involved in the project. RAID project management techniques originate from the classic “waterfall model” project management approach that started in the 20th Century.
By Business Documents UK Ltd Team . Published: 2019/06/21 6:06:19 PM, Last Updated: 2020/06/14 7:37:03 PM Answer URL
Every project is different, and projects typically have lots of moving parts. Project Managers use RAID Logs to stay on top of all the moving parts, and to inform regular routine meetings that track each RAID item, its associated owner, and what the next steps are for that item.
Each RAID Log item is one of these:
- A Risk – A negative factor that might happen. If it does happen, it will have a negative effect on your project. Risks are often scored by Likelihood and Impact. e.g.
- There is a risk that the project sponsor will stop funding the project.
- There is a risk that people will not buy our product
- An Assumption – This is something that you believe will happen, and you need to keep track of it to check that it will happen. e.g.
- We assume that people will still be eating cereal in 2021.
- We assume that there will be enough finance to borrow £xm in 2022.
- ISSUES – These are problems that are definitely happening. Risks can become issues. e.g.
- Not enough budget to run phase 2 of our project.
- The expert kite maker is leaving the company.
- DEPENDENCIES – These are things or processes that your project is reliant on. e.g.
- Raw materials are being delivered into the manufacturing plant.
RAID Logs can be summarised on Dashboards
Regular RAID Log updates
Project managers typically use a RAID Log to track the RAID items each week with regular meetings. For many, this is their favourite tool to monitor and track the impact caused by project changes, and to manage the actions across the project team.
In complex projects and programmes of work this regular RAID Log activity is essential to ensure that items are not forgotten or neglected – it is used as a living document to visit in real time, as the risks, assumptions, issues and dependencies develop.
While you can use project management software to help with RAID management, it is often better to use a simple excel spreadsheet, so that the team can all access and read the document easily.