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Project risk is an uncertain event that can have a positive or negative effect on a project objective. Risks have causes and, if they occur, consequences. On the flip side, projects also present opportunities that can be used to the advantage of the project. 

Effective risk management begins with identification of both risks and opportunities. Understanding and documenting the connection between your project's Risks and its Opportunities will help your team to understand how best to deliver value.

To learn more about how to use this template and to view some examples of this  documentation, see these accompanying pages:

How to Use the Risks and Opportunities Template

Examples: Risks and Opportunities Completed Templates

 

Project Risks

Risk DescriptionProbability/Priority
(low, med, high) 
Steps for Mitigation or AvoidanceIndividual who owns, watches and manages the risk
    

 

Project Opportunities

Opportunity DescriptionProbability/Priority
(low, med, high) 
Steps for Capturing OpportunityIndividual who owns and manages opportunity
    
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