RAID Log – SKM Project Templates

A RAID Log, or register, is one of the essential documents in the project management steps lifecycle.

A RAID log is one of the easiest and most effective tools you can create for your project.

It is a good idea to create a RAID log at the start of each project so you can track anything impacting you now or in the future. Keep your log up-to-date through weekly reviews and team meetings. A formal review and sign-off of your RAID Log should occur at the end of each of your project management steps.

The acronym RAID stands for Risks, Assumptions, Issues and Dependencies.

Risks

Events that will have a negative impact on your project if they occur. Risk refers to the combined likelihood the event will occur and the impact on the project if it does occur. If the likelihood of the event happening and impact to the project are both high, you identify the event as a risk. The log includes a description of each risk, full analysis and a plan to manage it.

Assumptions

Any factors that you are assuming to be in place that will contribute to the successful result of your project. The log includes details of the assumption, the reason it is assumed and the action needed to confirm whether the assumption is valid.

Issues

Something that is going wrong on your project and needs to be managed. Failure to manage issues may result in a poor delivery or even failure. The log includes a description of each issue, the impact it is having, its seriousness and actions needed to contain and remove it.

Dependencies

Any event or work that are either dependent on the result of your project or your project will depend on. The log captures who you are dependent on, what they should deliver and when. It may also include who is dependent on you.
Act swiftly and decisively to deal with any risks or issues identified. Check your assumptions are valid and understand your dependencies.

You can create a simple RAID Log using a spreadsheet with one tab for each area. Use it as a primary source for your status reporting. We have a variety of project templates that you can use to monitor and manage your project.

USING A RAID LOG, WITHIN THE PROJECT MANAGEMENT STEPS FRAMEWORK, IS EASIER THAN TRYING TO KEEP ALL THIS INFORMATION IN YOUR HEAD.

The benefits of risk management in projects are huge. You can gain a lot of money if you deal with uncertain project events in a proactive manner.

Experience shows that 10 golden rules exist for implementing risk management successfully throughout the project management steps in your project.