Difference beween Risk Matrix, Risk Register & Risk Report

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abhiwithu2005
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Joined: Sun Mar 11, 2018 7:24 pm

Difference beween Risk Matrix, Risk Register & Risk Report

Postby abhiwithu2005 Mon Mar 26, 2018 7:19 pm

Kindly help me with the explanation of difference between Risk Matrix, Risk Register & Risk Report
poonam.a07
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Joined: Wed Mar 07, 2018 12:57 pm

Re: Difference beween Risk Matrix, Risk Register & Risk Report

Postby poonam.a07 Tue Mar 27, 2018 9:48 am

Risk register is kind of risk log where we add all the identified risk during the early stage of project. this can be treated as master document during planning risk management.
Risk Matrix is a matrix which will be used during Risk Assessment to identify probability and impact of a risk, risk urgency and risk category.
Risk report are kind of reports which must have contain strategic and financial impact of risk for stakeholder to understand.

This is as per my understanding ,Experts may help better answers.

Thanks
Poonam
manishpn
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Re: Difference beween Risk Matrix, Risk Register & Risk Report

Postby manishpn Fri May 11, 2018 10:06 am

We do not have a term called risk matrix in PMBOK,
wrt risk KA we have Probability and impact matrix, as poonam described and also mentioned in PMBOK6 11.3.2.6 its a grid representation of the Impact and probability of each risk , that can help us get risk factor of each risk
Risk Register can be termed as a master database of all risk identified in the project, the register will have all the details about risks in the project.
Risk Report , is a document, usually verbose which has information about the risks in the project , it is different from the risk register.
Risk report can have a summary information of overall project risk, exposure, trends (risks identified, closed/retired, risks with increased factor etc)
The report is first produced as OP of identify risk process , however can get modified when other risk related processed are complete
This report is usually at a high level but can also be detailed based on what is mentioned in risk management plan
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
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