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RAID Log Sample Template for Project Managers

RAID Log Sample Template for Project Managers

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By Sara Patoff Last Updated on Jun 24, 2021
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  • Posted By Sara Patoff
  • Categories Project Management

You do not require special software with a high cost to use RAID logs. A simple excel template can do wonders. RAID logs can be customized templates to record detailed information regarding RAID. It should contain fields to record the following details:

  1. RAID item
  2. It’s description
  3. Criticality in the project
  4. Impact and likelihood, as appropriate
  5. Rank order, to prioritize the actions
  6. An action plan, with strategies, responsibilities and due date 
  7. Current status of RAID item

Four worksheets are present in the RAID log in order – Risk, Assumption, Issue, and Dependency.

However, you can customize these templates as per your requirement. The common fields for these 4 worksheets here would be, Project name, Last Reviewed Date, Identification number (Identification number of this RAID item) and Date Raised.

An ID can be classified as:

1.            R1, R2, R3….. for Risks

2.            A1, A2, A3,…… for Assumptions

3.            I1, I2, I3,…… for Issues

4.            D1, D2, D3,…… for Dependency.

Risk log template contains the following fields:

1.Risk Description: A little description of the identified Risk.

2.Likelihood: A likelihood rating on a scale of 1 – 5 based on the probability of appearance of the risk.

As chances of occurrence are higher the rating is higher.

3.Impact: An impact rating on a scale of 1 – 5 based on the impact of the risk on project deliverables.

 Higher the rating higher the impact.

4.Severity: Severity is nothing but the multiplication of Impact and Likelihood ratings for the same risk.

Severity decides the importance of the risk to mitigate on priority.

5.Mitigation Plan: Is a strategy to mitigate the severity of the risk. A strategy may include avoidance, mitigation, transference or acceptance. Remember, risk can be positive or negative. An experienced PM not only identifies negative risk but also identifies and records positive risks. Positive risks can play an important role to promote success in the projects.

6.Owner:  ownership is assigned for the risk mitigation plan.

7.Status: Helps to track the current status of any risk.

8.Date Closed: Date of closure.

Assumption log template contains the following fields: 

1.Assumption Description: A little description of the initial assumption.

2.Reason for Assumption: A note on the reason behind the assumption made.

3. Action to Validate List of actions to be performed to validate initial assumptions.

True validations elevate the project manager’s confidence in decision making.

4.Impact: if Assumption is false: Evaluate and describe the impact on the project, if the initial assumption goes wrong.

5.Status: Helps to track the current status of an assumption.

Issue log template contains the following fields:

1.Issue Description: A little description of the current issue.

2.Impact Description: description of the impact on the project due to the current issue.

3.Impact: An impact rating on a scale of 1 – 5 based on the impact of the issue on project deliverables.

Higher the impact, the higher the rating.

4.Priority: Priority depends upon impact rating. Priority rating decides the importance of the issue to be get solved in order.

5.Mitigation Plan: Is a strategy to mitigate the impact of the issue or fixed it. Remember, issues differ from risk, issues already occur events requiring attention.

6.Owner: Ownership is assigned. 7.Status: Helps to track the current status.

Dependency log template contains the following fields:

1.Dependency Description: A description of the task or work dependency.

2.Location:  With the help of location we can define, whether it is an inbound or outbound dependency.

3.Deliverables: Illustrate the deliverables to be produced.

 4.Delivery Date: Expected date of delivering the deliverables.

5.Importance: Importance rating should be High, Medium, Low for the dependency task item.

6.Status: Helps to track the current status.