risk assessment templates feature image in the ClickUp blog

10 Free Risk Assessment Templates and Examples (Excel and ClickUp)

Risk assessment tools save project managers time and resources by clarifying potential risks before the team gets to work.

Research shows more than 60% of projects are often beyond budget, late, or fail to deliver according to specifications. By using effective risk assessment strategies, you are more prepared to prioritize threats and interruptions to your project. And as a result, the overall success rate of the project will improve.

We’ve put together a list of 10 free risk assessment templates and use case examples to fit your project or program requirements. Whether you need to address the safety hazards of potential equipment or share a risk rating document with teams and stakeholders—we got you covered!

What is a Risk Assessment Template?

A risk assessment template is a resource to assess risks early and develop an actionable response plan. Depending on your industry type, a general risk assessment includes:

  • Risk identification
  • Impact area
  • Probability
  • Level of impact
  • Mitigation plans

This type of assessment template breaks risks down into varying stages, often using spaced tables for you to document identified threats and which parties are at risk. Risk templates also include a tool for assessing the likelihood and severity of risks.

10 Free Risk Assessment Templates to Try

1. ClickUp Value Risk Matrix Template

ClickUp Value Risk Matrix Template
Assess risks and create risk ratings with ClickUp’s List view

A technical and effective way to understand what to prioritize in your business model and new idea list is by understanding the worth of these features and the degree of risk linked to the implementation.

ClickUp’s Value Risk Matrix Template helps you go through the risk matrix for each possible risk that may occur. It’s a great way to practice proactive risk management. And since it’s a simple template, you can easily walk through the process and fill the value risk matrix quickly.

Here’s how you can use this risk assessment template:

  1. Create a task for each idea
  2. Input or select the person responsible for the idea or the plan execution
  3. Attach the file that contains all the information (i.e. research, cost analysis, etc.) about the idea/new feature
  4. Classify whether the idea/new feature is for your customers, admin, employees, or for the business in general

2. ClickUp Assumption Grid Decision Matrix Template

ClickUp Assumption Grid Decision Matrix Template
Brainstorm ideas on a ClickUp Whiteboard to identify hazards

An assumption grid helps you identify various assumptions from your business model. The grid plots these assumptions on two separate axes:

  1. Low-impact assumptions with little information available
  2. High-impact assumptions with little information available

Visualizing these assumptions helps you mitigate risks, make judgment calls, and overcome uncertainties. The ClickUp Assumption Grid Template is similarly a type of decision-making tool.

You can easily determine what the big boxes represent by checking the Legend. Each box has a corresponding color with added meaning.

  • Yellow = Certain, High Risk
  • Red = Uncertain, High Risk
  • Green = Certain, Low Risk
  • Grey = Uncertain, Low Risk

3. ClickUp Risk Register Template

ClickUp Risk Register Template
View risk assessment form responses by priority in ClickUp’s Board view

One of the most crucial parts of managing risks is to operate strategically to address any potential issues that may happen when managing a specific project.

With this template, you can document risks and response actions to manage each risk. It also helps you track potential risks and implement preventative measures before the risks happen. The ClickUp Risk Register Template is essential to successfully manage risks identified and logged on the register with actions to be taken to respond to the risk.

Responses should be regularly reviewed to monitor the progress. This risk assessment template offers several benefits, including:

  • Collecting potential risks and preparing proper actions for them
  • Assigning direct team members to monitor and prioritize tasks
  • Categorizing risks by type (Risks Response, Risks Status, and Risks by Level)

4. ClickUp Pi Planning Risk Template

ClickUp Pi Planning Risk Template Updated
Customize your own risk assessment template from a ClickUp Whiteboard

ClickUp’s Pi Planning Template helps you get a perfect overview of your PI Planning process with step-by-step frames that guide you through the entire risk assessment process.

The template gives you a clear picture of your team members’ backlog, including capacity, workload, and risks. Note that the number of sticky notes containing identified risks may shrink or grow as your team decides on mitigation approaches during the planning process.

The PI Planning Template is divided into four main boards to organize your PI Planning event:

  • Teams Board: Includes iterations, tasks, and objectives for each specific team
  • Program Board: Includes features, dependencies, and milestones
  • Agenda Board: Includes schedule, agenda, and presenter
  • ROAM Board: Includes program risks and obstacles

5. ClickUp Job Safety Analysis Template

ClickUp Job Safety Analysis Template
Create an actionable plan to minimize health and safety hazards in ClickUp

A job safety analysis should be conducted in workplaces to identify potential hazards that could cause major or serious injury such as hazard exposure, hazardous substances, and procedure changes.

The ClickUp Job Safety Analysis Template organizes key information all employees can access in a single view, including:

  • Site name
  • Site location address
  • Job type
  • Risk level
  • Possible risks/hazard
  • Countermeasures/Department
  • Protective equipment
  • Additional notes
  • PDF Files demonstrating the proper steps

6. ExcelHub Risk Assessment Excel Template

This is a basic risk assessment template in Excel designed to help you take the initial steps to standardize your processes. You can easily determine the data that should be collected from your business areas, outline suggested response selections, and define key terms.

Regardless of the risk events, configuration and assessment parameters, the risk assessment template in Excel can help you manage risks before they occur.

7. Excel Accounting Risk Assessment Form Template

Accurate finance and accounting risk assessment is essential and can make or break your personal or business finances. This professionally built risk Excel risk assessment template gives you valuable insights into your accounting risk level.

It also helps you provide all the necessary details about your business product requirements. In addition, accurate costing of purchased products is crucial to ensure your business does not suffer unnecessary losses.

8. ProjectManager Excel Risk Matrix Template

The free risk matrix template from Excel takes any potential threat and determines the impact and extent it could have on a particular project. This template helps you create a risk management process to highlight and correct issues before they become serious problems.

It also serves as a communication tool to let the team members know the risks that might arise during a project. This allows everyone to alert others if an issue becomes known and where it falls on the prioritization scale.

Bonus: RAID templates for risk management!

9. ProjectManager Excel IT Risk Assessment Template

The number of risks to an IT landscape is enormous, including software or hardware failure, viruses, malware, scams, pace, and phishing.

Human errors, as well as malignant threats from fraud, hackers, security breaches, and denial-of-service attacks also exist. Natural disasters like fire and floods also damage an IT system carrying valuable data.

With the Excel IT Risk Assessment template from ProjectManager, you can take into account the following:

  • The number of equipment and personnel needed to continue operating
  • How long it takes to restore the data or system functionality 
  • System and data needs

10. Excel Analysis & Risk Management Plan Template

Identifying risks is just a single step of the risk assessment process. The subsequent steps include other activities such as risk strategy, monitoring, and funding.

The Excel Management template helps you determine the likelihood of risk occurrence and the potential impact through risk analysis. It also helps understand the project’s performance and quality. As a result, you can easily implement adequate response and risk mitigation.

What Makes a Good Risk Assessment Template?

A good risk assessment template is easy to update, creates consistency for future work, and simplifies the creation process. If your company has specific criteria for assessing risks, using a template will ensure everyone has the same information to take the correct risk and control measures. Here are four key processes a risk assessment template will include:

Risk identification

This process needs dedication and creativity as it focuses on highlighting potential risks that might occur and impact project metrics. There are several methods for identifying potential threats in your organization. Your project team can brainstorm possible hazards and transform the findings into a risk checklist.

Risk analysis

This goes beyond identifying risks and determines the criticality of the risk. This is where you assign both qualitative and quantitative values to possible risks and analyze the potential and strategies to minimize them. Risk analysis helps you understand the risks’ likelihood of occurrence and potential impact. This way, you can implement the proper mitigation and response.

Risk response and mitigation

Risk mitigation helps design and implement strategies to reduce the occurrence and the impact of the risks. The primary objective is to minimize the likelihood of risk incidence as much as possible.

Risk control

Risk monitoring and control are also part of your assessment template. It helps ensure that the plans are carried out properly. As a result, your template should use the risk monitoring and controlling function to guarantee that your assessment and risk mitigation strategies are effective.

Developing a Powerful Risk Assessment Plan With ClickUp

Without performing a risk assessment at the initial stages of your project, you won’t have the advanced preparation needed to prioritize safety controls.

Empower your team stays ahead of potential hazards with the best risk assessment tools and a productivity platform like ClickUp.

ClickUp makes it easy to plan, manage, and report on projects from anywhere. Get real-time project visibility and report on key metrics with automated workflows and Dashboards to keep your team informed and connected!

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