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Risk Management Toolkit

Overview and Approach

Created by ex-McKinsey, Deloitte & BCG

Management Consultants specialized in
Risk Management
Content
The Risk Management Toolkit was created by ex-McKinsey, Deloitte & BCG Management
Consultants specialized in risk management. It includes 7 components.

Tools

Frameworks
Templates

Toolkit
Support from tier-1 Step-by-step
management consultants tutorials

Best Real-life
practices examples

2
Objectives
The Risk Management Toolkit includes frameworks, tools, templates, tutorials, real-life examples and best
practices to help you:
• Easily identify, assess and mitigate the key risks & issues of your project or company by leveraging our risk management 6-
phase approach, risk log, issue log and risk assessment matrix

• Prioritize your risks based on the potential impact of the risk and the probability of the risk to happen

• Automatically calculate your number of open risks, closed risks, and risk value with our Excel formulas

• Present a robust risk management approach and risk assessment overview to your board of directors, executive committee or
program manager

• Get a high-level view of all your risks with our 3 by 3 Risk Prioritization Matrix and 5 by 5 Risk Prioritization Matrix

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Approach
Our Risk Management Toolkit includes a simple 6-phase approach, which can be used to manage the risks
& issues of a company or a project

5.Risk
1.Risk 2.Risk 3.Risk 4.Risk Closure and 6. Issue
Identification Assessment Prioritization Mitigation Issue Management
Escalation

This approach is simple and straightforward, which makes its implementation easy for
everyone within your organization.

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Tools and Templates
To easily implement our 6-phase approach, we created 5 Tools in Powerpoint and Excel which can be used
for both you company or a specific project.

Simple Risk Log Simple Issue Log Risk Prioritization Matrix

Comprehensive Risk Log Comprehensive Issue Log

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Let’s zoom on the phase I

5.Risk
1.Risk 2.Risk 3.Risk 4.Risk Closure and 6. Issue
Identification Assessment Prioritization Mitigation Issue Management
Escalation

6
1.Risk Identification

The best way to identify the risks of your project or company is to use one of the 2 Risk Logs which are part of the Risk Management
Toolkit:

Simple Risk Log in Powerpoint Comprehensive Risk Log in Excel

The Simple Risk Log in Powerpoint is great if your list of risks is small or if you need to make a presentation in front of your Board of
Directors, Executive Committee or any stakeholders that do not need to know too many details.

The Comprehensive Risk Log in Excel is great if you have a long list of risks and need to provide a lot of details for each one of them.

Our clients usually like to use both: They prefer to use the Comprehensive Risk Log in Excel during working sessions with their team.
However, when they need to provide a high-level view to their manager or key stakeholders, they prefer to highlight the top 5 risks they
identified using the Simple Risk Log in Powerpoint .
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Let’s zoom on the phase II

5.Risk
1.Risk 2.Risk 3.Risk 4.Risk Closure and 6. Issue
Identification Assessment Prioritization Mitigation Issue Management
Escalation

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To assess your corporate risks or project risks correctly, it is important
to use the following 2 dimensions

Probability Impact

What is the
probability of
the risk to
& What is the
potential impact
of the Risk
happen

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By multiplying the dimension “Probability” by the dimension
“Impact”, you get your “Risk Value”

Probability Impact Risk Value

What is the
probability of the
risk to happen
X
What is the
potential impact of
the risk = The risk value will
help you prioritize
your risks

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To assess the Probability of a risk to happen, you can use a 3-level
rating or a 5-level rating depending on your needs

Probability 3-level rating

Probability Scale Definition

3.Likely Above 60% of chances to happen

2.Possible Between 20% and 60% of chances to happen

1.Unlikely Less than 20% of chances to happen

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To assess the Probability of a risk to happen, you can use a 3-level
rating or a 5-level rating depending on your needs

Probability 5-level rating

Probability Scale Definition

5.Almost certain Above 90% of chances to happen

4.Likely Between 60% and 90% of chances to happen

3.Possible Between 20% and 60% of chances to happen

2.Unlikely Between 5% and 20% of chances to happen

1.Rare Less than 5% of chances to happen

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To assess the Potential Impact of a risk, you can use a 3-level rating or a
5-level rating depending on your needs

“Impact” 3-level rating

Impact Scale Definition

3.Major Risk will impact project success or company success

2.Moderate Risk may impact project success or company success

1.Minor Barely no impact on project success or company success

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To assess the Potential Impact of a risk, you can use a 3-level rating or a
5-level rating depending on your needs

“Impact” 5-level rating

Impact Scale Definition

5.Severe Risk will cause Project failure or Company failure

4.Major Risk will impact project success or company success

3.Moderate Risk may impact project success or company success

2.Minor Barely no impact on project success or company success

1.Marginal No impact on project success or company success

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Let’s zoom on the phase III

5.Risk
1.Risk 2.Risk 3.Risk 4.Risk Closure and 6. Issue
Identification Assessment Prioritization Mitigation Issue Management
Escalation

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Your risk prioritization will depend on your risk value. The Risks with
the highest risk value should be your priority #1.

Risk Value rating if you decided to use a 3-level rating to

assess “impact” and “probability”

Risk Value Score Level of priority

High 9 Priority #1

Medium 6 Priority #2

Low 1, 2 or 3 Priority #3

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Your risk prioritization will depend on your risk value. The Risks with
the highest risk value should be your priority #1.

Risk Value rating if you decided to use a 5-level rating to

assess “impact” and “probability”

Risk Value Score Level of priority

High ≥ 15 Priority #1

Medium Between 6 & 14 Priority #2

Low ≤5 Priority #3

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To easily prioritize your Risks, you can leverage one of our 2 Risk
Prioritization Matrixes

3 by 3 Risk Prioritization Matrix 5 by 5 Risk Prioritization Matrix

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And you can also use our Comprehensive Risk Log

Comprehensive Risk Log

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Let’s zoom on the phase IV

5.Risk
1.Risk 2.Risk 3.Risk 4.Risk Closure and 6. Issue
Identification Assessment Prioritization Mitigation Issue Management
Escalation

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Define for each risk your risk mitigation strategy

The objectives of your risk mitigation strategy should be to:

• Decrease the probability of the risk to happen or, if possible, totally remove the likelihood of the risk to happen
• Decrease the level of impact of the risk

Your risk mitigation strategy should include:

• Clear actions on what needs to be done
• A deadline on when the actions needs to be implemented
• A person responsible for mitigating the risk

Both our Simple Risk Log in Powerpoint and our Comprehensive Risk Log in Excel include a risk mitigation strategy section
that you can easily fill in.

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Let’s zoom on the phase V

5.Risk
1.Risk 2.Risk 3.Risk 4.Risk Closure and 6. Issue
Identification Assessment Prioritization Mitigation Issue Management
Escalation

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There are mainly 2 reasons to close a Risk

1. The implementation of your risk mitigation strategy worked, and the risk value is now very low or equal to
zero.
2. Despite your risk mitigation strategy, the risk became a real issue. In this situation, you need to close the risk
and create an “issue” and manage it using one of these 2 Issue Logs presented in the next slide.

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Let’s zoom on the phase VI

5.Risk
1.Risk 2.Risk 3.Risk 4.Risk Closure and 6. Issue
Identification Assessment Prioritization Mitigation Issue Management
Escalation

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To manage your issue efficiently, you can leverage our simple and
comprehensive issue logs

Simple Issue Log Comprehensive Issue Log

The Simple Issue Log in Powerpoint is great if your list of issues is small or if you need to make a presentation in front of your Board of
Directors, Executive Committee or any stakeholders that do not need to know too many details.

The Comprehensive Issue Log in Excel is great if you have a long list of issues and need to provide a lot of details for each one of them.

Our clients usually like to use both: They prefer to use the Comprehensive Issue Log in Excel during working sessions with their team.
However, when they need to provide a high-level view to their leadership team or key stakeholders, they prefer to highlight the top 5 issues
they identified using the Simple Issue Log in Powerpoint .
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