Risicolog

Risicolog is a formal record used in risk management to capture, assess, and track risks that affect a project, program, or organization. In English-language practice the term is commonly rendered as risk log or risk register and it serves as a central tool for monitoring uncertainty and guiding action. A risicolog is typically used at the operational level to support decision-making, accountability, and communication with stakeholders.

Its standard content includes a unique identifier, a risk description, category or source, an assigned owner, estimates of likelihood and impact, and an overall risk rating. Additional fields often cover planned mitigations or controls, trigger conditions, action owners, due dates, status, residual risk after mitigation, and the date of the last review. Some entries also specify response strategies such as avoid, reduce, transfer, or accept.

Processes associated with a risicolog typically include risk identification, assessment, prioritization, and mitigation planning, followed by ongoing monitoring and periodic reviews. The log is updated as new risks emerge or as existing risks change, with escalation to management when thresholds are exceeded. Alignments with risk management standards such as ISO 31000 or sector-specific guidelines are common.

Usage and benefits include improved visibility of threats, clearer ownership, auditability of actions, and better-informed budgeting and scheduling. A risicolog supports risk communication with stakeholders and enables early warning, contingency planning, and learning for future projects. Variants exist across industries, with some teams preferring a risk register for strategic risk and a hazard log in safety-critical domains.