A risk register database system to aid the management of project risk

Abstract

This paper presents a Risk Register Database System, which incorporates a Risk Register and a Risk Assessment Tool which have been used to aid the management of project risk within an automotive company. The Risk Register is primarily a tool which has enabled the risks within a project to be documented and maintained irrespective of geographical location, and has provided the platform for the reduction and mitigation plans to be developed for the high level risks within the project. The Risk Assessment Tool uses the information documented within the Risk Register to enable the overall riskiness of a project to be reported on a regular basis and as such, track the effectiveness of utilising a Project Risk Management Methodology Throughout the lifespan of a project. © 2002 Published by Elsevier Science Ltd and IPMA.