Risk Register

The use of a risk register allows organisations to fully understand the development and management of risks over time. It should be a living document which is updated regularly. The specific purpose of a risk register will dictate its design and there are any number of free documents available online for particular purposes (e.g., finance, projects, tax, HR).

In the event that at an unexpected event occurs or for which mitigations were unsuccessful, the process for identifying risks and mitigations should be reviewed. This might include the need to undertake training with current Board members or recruitment for Board members who have specific skills in this area.

Conversely, past risk registers might provide insights that can inform future governance and risk appetites – for example, your organisation may have chosen not to participate in a given programme of work based on the level of risk identified at the time. In the event that the programme was successful, it would be valuable to review how and why the decision was taken and whether there are learning points for the future.

Types of Risk Register

Organisational

The following links provide for templates and examples that can be used as a starting point for your own risk register:

NCVO - Risk register template

Bedfordshire CVS – Risk register template

Inspiring Scotland – Risk register template

Finance

A financial risk register is a document which lists potential financial risks an organisation might face, assesses their likelihood and impact and outlines mitigation strategies:

London Borough of Havering – Finance risk register

Project Management Flash Reports

Flash reports are frequently used within NHS organisations to monitor the delivery of projects.

NHS Lanarkshire - various flash report templates

Further resources and links

SCVO - Risk management