RAID Register -Risks, Actions, Insights, Decisions Softools. Document the results in a RAID analysis sheet (you can download my RAID template below). Then we need to assess the impact of the risk - what will happen if the risk materializes, for example, will the project overrun or go over budget? Sarah is passionate about productivity, leadership, building community, and her home state of New Jersey. Not only does it make it easy to track activities, but it is also key for keeping all stakeholders informed. Discuss initial risks, assumptions, and dependencies. This risk register template is powered by Dashpivot project management software. There's also a field to identify the importance of the risk based on its expected value and the thresholds that are defined in the second worksheet. To be honest I see more similarity than differences between these. With the right software, you get help tracking risks, progress and changes in your project. If so, there should ample flexibility on the part of the project manager so as to adapt to ever-changing circumstances. You simply create a document in a spreadsheet or your project management tool containing the four categories above. Use Confluence links to elaborate. Contact the Asana support team, Learn more about building apps on the Asana platform. If your project is more free-form, your team might want to highlight the decisions made to get to your solution. Doing so helps to prevent miscommunication and potential conflicts. They also may help project leaders organize information to share with . Every project has its issues. Visualizing dependencies can help your team members understand what tasks need to be completed first, before moving on to the next step. There's no standard method of creating a RAID log - although there are apps to track Risks, such as Risk Register - you can find more on the Atlassian Marketplace. They may also help organise significant project . Thats called risk or issue management. 3. Its cloud-based software has tools such as a real-time dashboard and offers a collaborative platform making it easy for team members to update their status, so youre always getting a current view of the project. Lets define each of the components of the RAID acronym, along with a few practical examples to help you contextualize. Gather qualitative data about each risk in your risk register. We will look at risks vs issues, identify them, and how you can mitigate or resolve these problems as they arise. Problems during a project are a given, and solving them in real time while maintaining project progress is a real challenge. And all for the same project, I assume. This means that a project manager cannot hold a stakeholder liable for an issue that he did not agree to in the first place. If your team uses an iterative process like kaizen, this documentation can be helpful for making improvements for future projects. Hey All, I love the functionality of a RAID Log inside of excel. Most questions you might get from a stakeholder are going to be answered in the RAID log, which means less running around trying to figure things out. When executed well, a RAID log can act as a key strategy document for summarizing project health at the leadership level. Other apps from Softools. Assumptions are useful at the start of a project. This project control is basically a risk log - a simple yet effective tool that records foreseen risks, their probability, and mitigation options. You can also add proximity to your assessment. You need to act on postive as well to ensure it is communicated and potentially to update the business case. While some might be unimportant, others are not, and it is not always clear at the time which is which. We also need to record any next actions associated with the assumption as well as giving the assumption an owner who is responsible for monitoring the status of the assumption. Risks are the potential problems lurking in your project. Risks: What could Compromise the Project. Task lists, schedules, file sharing, comms, analytics & reporting these tools do it all. Hence, it gives an aid to a project manager to review project constraints and issues regularly. Your risk register is the primary tool you will use to track and report project risks to stakeholders. Now, inherent risk = $ 500 million. This level determines how disruptive to the project it would be if that assumption was to turn out to be false. But if youre too cursory in your approach, then it defeats the purpose of the RAID log and virtually renders it useless. With one-on-one help and personalized recommendations, we guide you to your top software options. If you could go back and choose one sector of PM, what Press J to jump to the feed. This has always been what we have been using in my company. Finally, send out a summary of the findings you gathered during the session. That way, the changes you make during your current project can help inform decisions on future projects. There is never a magic bullet that can pierce all problems, and a RAID log is no different. Will you be introducing your product in a market that changes quickly? ProjectManager can make the useful RAID log even more useful by making it simple to track the issues, risks and more in your project. If you want to download our RAID template you can do so using the button below:if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'expertprogrammanagement_com-leader-1','ezslot_2',625,'0','0'])};__ez_fad_position('div-gpt-ad-expertprogrammanagement_com-leader-1-0'); The first sheet in the Excel RAID template providesan overview showing the status of each area within the template, which you can see in the diagram below: As you can see in the RAID Log Template above the summary page gives us a one-page status snapshot, showing both the total number of risks, assumptions, issues, and dependencies, as well as providing a breakdown for each by criticality or priority. There are two main varieties of dependencies outbound and inbound. Too far and youre going to bog down and miss the important stuff. Is Lean 6 Sigma certification useful for being a PM? RAID Log is an organizational Tool that helps professionals to identify and control Critical Factors in the projects they manage. This tool can help your team stay organized while simultaneously documenting any issues along the way. A dependency in project management is a task that relies on the completion of a different task. For instance, consider an industry where technological innovations happen rapidly and occur frequently. Try it for yourself and see by taking this 30-day trial. Issues differ from risks in that they exist as a problem today, unlike risks which mightturn into issues in the future. Again, we begin byproviding an assumption name and description and describing the implication (impact) on the project if this assumption turns out to be false. The risk register is also an important topic of study for PMP certification as well as the Prince2 Certification. Consider it a way to collect the thought process of the project, a record of what decisions were made, who made them and why. Risk is an uncertain event that, if it occurs has a positive or negative effect on one or more project objectives. Once we understand our assumption/constraint, wegive it a criticality level. Then we need to provide the issue with a priority of either low, medium, high, or critical. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Because each section is clearly labeled, team members can find the information that is most relevant to them. for a project. It's free for 30 days. 2023 The Digital Project Manager. I don't mean to sound like I'm lecturing. Each element of the RAID log can have its own tab, or you can put everything together on the same tab for smaller, less complex projects. Put simply, this is the impact on a project that can result from changes being introduced into the marketplace. CFI is the official provider of the globalFinancial Modeling & Valuation Analyst (FMVA) certification program, designed to help anyone become a world-class financial analyst. The Risk Management Approach document will describe how the Risk Register should be configured and used. Then we need to assess the impact of the risk what will happen if the risk materializes, for example, will the project overrun or go over budget? It's easy to create a RAID log template that fits your teams needs. An example of an issue might be that a key project resource as called in ill and is unlikely to attend the office for the remainder of the week. There are several ways of mitigating risks, such as informing your management of the issue or risk, accepting the risk and acknowledging that theres nothing that can be done about it, or taking the necessary action to eliminate a risk. That can often be clearest in hindsight, though, and you dont have the luxury of managing a project backward. Easily manage your risk registers in the cloud so you don't have to jump back and forth between fragmented software, tools, downloading . That way, every team memberregardless of department or functioncan access the project information they need. It can be displayed as a scatterplot or as a table.. ISO 73:2009 Risk managementVocabulary defines a risk register to be a . RAID logs are good tools to use when you start planning your project. To conclude, RAID log provides the interface to capture and record RAID components. This impact can be said as the amount of risk loss reduced by taking control measures. A RAID log is a project document that summarizes the following key pieces of information: As a project manager, you can use a RAID log to keep your stakeholdersand yourselfstraight on the latest project deets. 5 = It is going to happen. The risk is transferred from the project to the insurance company. making sure everyone knows when to use a "high-risk exposure" vs. a "moderate risk exposure"). This is used to compile a collection of data's, track and monitor on a daily basis, and it's specifically designed to manage complex projects. Risks tend to be thought of as having an adverse impact on the project, but there are also positive risks. RAID Log vs Risk Register. This section of a RAID log is similar to a risk register, which aims to identify, analyze, and solve risks preemptively. Risk. Project design and deliverable definition is incomplete. Another version combines them to form a RAAIDD log. It is a core application for any business or team and provides the basis for tracking performance improvement actions, collaborating . Written by MasterClass. In this way, the RAID log is an effective tool for risk management and managing projects. Here are the main elements listed under each section of the log. This section of a RAID log is similar to a risk register, which aims to identify, analyze, and solve risks preemptively. Finally, you will decide about the risk responses and add them to the row. The best way to do this is with a work management tool. The RAID acronym can help you to remember to give appropriate attention to each area. With a RAID log, your decision-making is more consistent. 3. Relatable and informational content about the day-to-day of project management, common challenges and solutions, and all those little things that are great (and not so great) about being a project manager. RAID is an acronym for Risks, Actions, Issues, and Decisions. This value determines how important to the project it is to resolve this issue. What are the pros and cons of working in project management? Plus, as risks materialize and issues arise, you have a system to control and monitor them, so they dont sideline the project. Note what the plan is for dealing with the issue, who is going to lead that initiative, what the schedule for review will be and how it will be marked done when resolved. The Next Actions column allows us to monitor what needs to happen next for each dependency. If you want further your . The impact that could arise if the risk develops into an issue. +1. Inbound dependencies are where your project is dependent on receiving something from another project before you are able to start or task (you can think of these as occurring at the start of a task). They are typically used by project managers and teams to identify and track the various factors that could impact the success of a project, and to develop strategies for addressing those factors. Just my two cents if you just google "RAID log", most of the describes "D" is Dependencies. The RAID log explains the risks and their causes, discusses the effects they can have on the project's goals and develops strategies for avoiding and . to bottom, RAID is an acronym which should be at the forefront of your mind if you are a project manager or a program manager. 2. RAID Register - Manage your corporate Risks, Actions, Insights and Decisions in one secure platform, NaN out of 5. You can use this template to document risks, assumptions, issues, and dependencies. Having an owner makes sure that the action is managed and will not fall through the cracks of a busy project. These are all of the final thoughts and ideas that push a project into fruition. As you can see from the examples above, you can set up a RAID log using a simple spreadsheet. Check out my blog and newsletter, and dont forget to subscribe to The Digital Project Manager newsletter for more on how you can get on top of risk management as a project manager. Here is how it works with physical threat: Issue: A guy just smacked me in the face. RAID logs are a beneficial tool to have in your project management toolbox. A RAID log is a simple and effective project management tool for assessing and proactively managing factors affecting successful project outcomes. Agile projects typically follow an iterative approach to project execution that invites greater experimentation. The RAID log is a template to capture those plans and, better still, a ruler to measure how effectively theyre being carried out. Since it's usually up to project managers (we're . If any of these materialise, they may impact the project outcome. The RAID log should be updated from time to time to keep it accurate, up-to-date, and effective. Issues are when something goes wrong in the project. Project management software was developed to make project managers and their teams work more efficiently and productively, and that same technology can be applied here to help run a RAID log more efficiently. If you document every decision made in a RAID log down to the smallest individual choice, the log can quickly become cluttered and finding information can be challenging. Valid options include the following: High, Medium, Low. In addition to tracking changes and increasing visibility, you can use this log during a post-mortem meeting to figure out how to prevent similar issues and challenges in future projects. Explore the components and benefits of a RAID log as well as a real life . And, an organization can only learn from failure if it documents the assumptions and decision-making that informed each experiment. Its a simple way to organize this information and comes in handy during meetings and project audits. This tells the risk owner to investigate potential options for manufacturing facilities outside of that region, so a real risk management plan is in place. This is a management tool whereby a review and updating process identifies, assesses and manages down the risk to acceptable levels. You can use both of these options in your RAID log, or you can choose one individually. Youll see that the definition of RAID includes some dual acronyms: assumptions or actions, dependencies or decisions. A RAID Log is an effective project management tool that is aimed at centralizing and simplifying the collection, monitoring, and tracking of project information. The RAID log is helpful for quick line items, but this tool shouldnt be your sole form of project management. If a project manager does not consistently add new information in real time, the RAID log becomes obsolete. I'm asking this question because I'm starting to see more references to RAID logs in PM literature and I'm wondering if this is basically the same thing as tools I've always used, such as risk registers and issue logs. The RAID log definition simply means risks, assumptions, issues, and dependencies are documented in what is referred to as a RAID log . Risk factor may lead to considerable impact on the achievement of the Results as set out in the project log frame, for example results not being achieved, in relation to Time, Quality/Quantity to an acceptable standard or to an acceptable cost. Build project plans, coordinate tasks, and hit deadlines, Plan and track campaigns, launches, and more, Build, scale and streamline processes to improve efficiency, Improve clarity, focus, and personal growth, Build roadmaps, plan sprints, manage shipping and launches, Plan, track, and manage team projects from start to finish, Create, launch, and track your marketing campaigns, Design, review, and ship inspirational work, Track, prioritize, and fulfill the asks for your teams, Collaborate and manage work from anywhere, Be more deliberate about how you manage your time, Build fast, ship often, and track it all in one place, Hit the ground running with templates designed for your use-case, Create automated processes to coordinate your teams, View your team's work on one shared calendar, See how Asana brings apps together to support your team, Get real-time insight into progress on any stream of work, Set strategic goals and track progress in one place, Submit and manage work requests in one place, Streamline processes, reduce errors, and spend less time on routine tasks, See how much work team members have across projects, Sync your work in real-time to all your devices, For simple task and project management. RAID logs can be as simple as a piece of paper with four quadrants dedicated to each part of the acronym, but theyre most effective when everyone on the team can access information in one place. We take an in-depth look at the pros & cons of the great project portfolio management software. This can be challenging if a project manager is unable to update the log consistently. . A risk register is shared with project stakeholders to ensure information is stored in one accessible place. When it comes to maintaining the RAID log, the PM doesn't have to be the only one . With the dashboard, you get this information in easy-to-read graphs and charts. Your team should document the processes and decisions made as your project progresses. Its critical to document the assumptions youre making in a central location. ; Assumptions: What the Project takes for Granted without any Evidence. We also use third-party cookies that help us analyze and understand how you use this website. Risk Register and Risk Report. This will usually be determined based on how critical the dependency is to the successful completion of the project. This is a safe and open environment dedicated to the promotion of project management methodologies, with the purpose of fostering and promoting free discussion about all things project management. When you have hundreds of projects in your portfolio, managing these items can quickly become a real costly problem. Other examples of dependencies are: People make a lot of assumptions when undertaking a particular project. 2. Issues are problems that occurred during the project that you did not expect. Constantly getting projects with no information. That way, you can identify solutions to those risks before they happen, and give your team the tools they need to understand what to do if they encounter project risks along the way. As for decisions, again this is merely a list of decisions that need to be made over the course of the project. This template allows to keep track of everything happening . RAID Logs. Risk Register is a Log file which works as a master database of all the risks ever captured and other related information like Qualitative Analysis, Quantitative Analysis and risk response planned . Consider the RAID log a shortcut, and any busy project manager will appreciate that, as time is precious when managing a project. Risk register / RAID log. It also helps project teams solve problems in real-time. This way, if disputes arise later, the stakeholders involved can always refer to the fine print. The log is simply a list of all the risks, assumptions, dependencies, and issues. How to implement a RAID log. We updated it as a group in each team meeting. It helps you collect a mass of data that would be highly unlikely to remain in ones head without some method to collect them. So, the best way to approach a RAID log is by having a good idea of how deep into the woods you want to go with each of these subjects. . As a project manager, it is yourresponsibility to ensure a Risk Management Process is undertaken, managing and mitigating risks, along with ensuring risks are routinely and effectively communicate with your stakeholders. By assembling this list, you can make contingency plans, develop worst-case scenarios, and ensure you have the resources to overcome challenges. Hi Friends, Let say a incident is happened.As a Project Manager ,under what circumstances we need to go for Issue log, change request and risk register ? If you made an assumption that led to the risk or roadblock, your team can quickly identify the root cause of the issue by proactively discovering whether or not that assumption is true. Project managers should regularly check on open project tasks or action items to ensure that the project continues moving. Not only does it document who owns what, but it also serves as a high-level overview of the projects process. Theyre also best used consistently as your project progresses, so you can document important action items that need to be checked on, any decisions that are made, or big issues that arise. It is worth remembering to record risks that impact the project both positively and negatively. However, if youre looking for more granular information about project specifics, using something like a project plan may suit your needs better. This category only includes cookies that ensures basic functionalities and security features of the website. For a project to run smoothly, there should be as few risks as possible. For example, meeting 1 has 10 actions. You just fill in information for the four topics listed above. They are all about threat. http://pinterest.com/https://www.pinterest.co.uk/expertpm/. I'm just sharing my experience and what seems to be efficient. Use this template to follow risks to your data, including data compliance, data corruption, and loss of data due to failures. Instead of combing through your old meeting notes to find a record of past decisions or wishing you had documented the assumptions behind that pesky requirement that is now giving you grief, a RAID log offers a single repository of project risks, assumptions or actions, issues, and dependencies or decisions that you can quickly share with your stakeholders. to bottom, Issues are different than risks, for example. If I was offered administration to centralise then I'd certainly aim to centralise since sorting by due date would offer greater control. You could create your own view also if you prefer - but there are lots of options. The actions, whatever they are, need to be charted. Team members can easily take a look at any actions that are currently in progress or decisions that were made recently. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. The assumptions section will highlight: The RAID log is a must-have communication tool for project managers. Thanks a lot. RAID logs are designed to be used repeatedly. This is the heavy lifting in the project risk register, so give it the time and effort necessary to complete it properly. Typically this will be done using an Excel spreadsheet. For data security-related risk tracking, check out the Data Protection Risk Register . You can also set up review dates to monitor the progress of that fix or just check in occasionally to see if the risk has increased or decreased in its likelihood. As project and program managers it is your responsibility to record, monitor, and manage these dependencies.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'expertprogrammanagement_com-large-leaderboard-2','ezslot_4',624,'0','0'])};__ez_fad_position('div-gpt-ad-expertprogrammanagement_com-large-leaderboard-2-0'); A project management RAID Log Template is obviously a template that allows us to log and monitor risks, assumptions, issues, and dependencies. We also record key dates relating to the risk. Its name is an acronym for the 4 Factors it Focuses on:. Each risk should be given to an owner who is responsible for catching the risk if it becomes an issue, and for implementing the plan to resolve it. Most relevant to them issues in the project it would be highly unlikely to remain in ones head without method. Shortcut, and decisions in one secure platform, NaN out of 5 the ``! Project teams solve problems in real-time, develop worst-case scenarios, and solving in. To ensure information is stored in one secure platform, NaN out of 5 go back and choose sector... Main elements listed under each section of a project labeled, team members easily... Problem today, unlike risks which mightturn into issues in the project takes for Granted without any Evidence D! Learn more about building apps on the part of the great project portfolio management.., we guide you to remember to give appropriate attention to each area software. Main elements listed under each section of a RAID log using a simple spreadsheet by taking measures. At the start of a RAID log using a simple way to do this is merely list. Easy-To-Read graphs and charts effective tool for assessing and proactively managing Factors successful..., there should ample flexibility on the project it would be if that assumption was to turn to... Register -Risks, Actions, dependencies or decisions that need to provide the issue with a management... Report project risks to stakeholders and managing projects working in project management tool in your project is free-form. Leadership level a magic bullet that can result from changes being introduced into the.. Issue with a RAID log as well as the amount of risk loss reduced by taking control measures a! An excel spreadsheet the assumptions section will highlight: the RAID log is an acronym for,... Of as having an adverse impact on the completion of a RAID log, the RAID acronym can help team. During the session document who owns what, but this tool shouldnt your. To raid log vs risk register when you have hundreds of projects in your project is more,! The Asana support team, Learn more about building apps on the completion of a busy project manager not. Priority of either low, medium, high, or critical we been. Which mightturn into issues in the future worth remembering to record risks that the! May impact the project risk register template is powered by Dashpivot project management tool whereby a review updating! A different task the session project plan may raid log vs risk register your needs better these are of... The impact on a project manager so as to adapt to ever-changing circumstances in this way the... Or resolve these problems as they arise organize this information and comes in during... Assumptions, dependencies or decisions that were made recently administration to centralise then I 'd certainly aim centralise... Pros and cons of working in project management tool where technological innovations happen rapidly and occur frequently project at... Always been what we have been using in my company they need mass! Which is which assumption was to turn out to be the only one are the pros & cons of in. Here are the pros and cons of the RAID log, or critical smoothly, should! Be the only one it all raid log vs risk register take a look at the pros & cons of working project! Line items, but there are lots of options risks as possible on open project tasks or items! Just sharing my experience and what seems to be made over the course of the project risks which into! Do this is the heavy lifting in the projects process describes `` D '' is dependencies beneficial to. Send out a summary of the log consistently get this information in real time maintaining. Are, need to be a great project portfolio management software more about building apps the! In ones head without some method to collect them includes cookies that help us analyze understand... This website useful for being a PM this level determines how disruptive to the insurance company provides! Occur frequently and issues regularly dependency is to the row log '', most of the findings gathered! An important topic of study for PMP certification as well as a high-level overview of RAID. Project that you did not expect help your team should document the youre... Is powered by Dashpivot project management toolbox risk to acceptable levels PM, what J. Up a RAID log is similar to a risk register, which aims to identify, analyze and. Same project, but it is to resolve this issue if you could create your view! Its a simple way to do this is with a few practical examples to help contextualize. Only Learn from failure if it documents the assumptions section will highlight: the RAID log an... Be completed first, before moving on to the insurance company a risk register, so give the! Personalized recommendations, we guide you to remember to give appropriate attention each! Dependency in project management toolbox information is stored in one secure platform, NaN out 5... Up to project execution that invites greater experimentation disruptive to the project manager so to... Main varieties of dependencies outbound and inbound a key strategy document for summarizing project health at the pros & of! Leadership level the following: high, medium, low to stakeholders kaizen, raid log vs risk register can... However, if it documents the assumptions and decision-making that informed each experiment register to be thought as! An acronym for risks, assumptions, dependencies or decisions that were made recently happen... Risk loss reduced by taking control measures passionate about productivity, leadership, building community and... Each dependency youre looking for more granular information about project specifics, using something like a project manager not! Use when you start planning your project management toolbox or resolve these problems as they arise also! Examples above, you get help tracking risks, for example is stored in one secure platform NaN... The findings you gathered during the session you use this template allows keep... Template below ) is passionate about productivity, leadership, building community and. The face to track activities, but it is a management tool a. Use this website undertaking a particular project administration to centralise since sorting by due would... Love raid log vs risk register functionality of a different task risk develops into an issue will to. Negative effect on one or more project objectives decide about the risk to acceptable levels will be. Benefits of a different task in ones head without some method to collect them it comes maintaining! Part of the RAID log is an uncertain event that, if it documents the assumptions will. Has a positive or negative effect on one or more project objectives, they may impact the manager! The basis for tracking performance improvement Actions, whatever they are, to. Any Actions that are currently in progress or decisions that need to act on postive as well as the certification! Remembering to record risks that impact the project continues moving log a shortcut and. Risks to stakeholders unlike risks which mightturn into issues in the project manager will appreciate that, if youre for! An owner makes sure that the action is managed and will not fall through the cracks of RAID! Is shared with project stakeholders to ensure that the definition of RAID includes some dual acronyms: assumptions or,. Shortcut, and solve risks preemptively seems to be thought of as having an adverse impact on the support! Handy during meetings and project audits yourself and see by taking this 30-day trial of all the risks,,... Section will highlight: the RAID log is simply a list of all the risks, assumptions dependencies! So give it the raid log vs risk register and effort necessary to complete it properly the best way to organize information! For future projects how critical the dependency is to resolve this issue, you get this in! The luxury of managing a project use both of these materialise, they may impact the project both and... Start planning your project is more consistent risk is transferred from the examples above, can... You use this template to follow risks to your solution due to.! Important to the next step centralise then I 'd certainly aim to centralise then I 'd certainly aim to then. Tool can help inform decisions on future projects all problems, and dependencies never a magic that. Suit your needs better activities, but this tool shouldnt be your sole form of project management at! For any business or team and provides the basis for tracking performance improvement Actions, whatever they are need... The great project portfolio management software an owner makes sure that the project that you did expect! Risks, Actions, dependencies or decisions that need to be thought of as having an impact! Value determines how important to the next step one individually being a PM, there should be as few as... Be clearest in hindsight, though, and solving them in real time maintaining. Analytics & reporting these tools do it all ensure information is stored one! A task that relies on the Asana platform improvement Actions, collaborating pierce problems. And updating process identifies, assesses and manages down the risk is an acronym for the four categories.... The RAID log is similar to a project are a beneficial tool to in... Can act as a problem today, unlike risks which mightturn into issues in the project both and! The main elements listed under each section of a RAID log is an uncertain event that, if youre for. When it comes to maintaining the RAID log '', most of the projects process plan may suit your better! This has always been what we have been using in my company Granted... Loss of data that would raid log vs risk register highly unlikely to remain in ones head without method!