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Risk Register Template

Corporate governance · Free tool

Risk Register Template

A risk register does not need to be complicated to be useful. It needs each risk named, a rating of how likely it is and how much it would hurt, and a ranking. This template does exactly that with a 1 to 5 scale for both. It is for boards, CFOs, operations managers, and founders preparing a risk review.

Your entries stay in this browser. Use Fill example to see a finished page first.

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What this corporate governance tool gives you

The output shows the highest score and the number of risks, then a table of Risk, Likelihood, Impact, and Score sorted from highest to lowest. Bring it to an audit committee or management meeting and spend the time on the top rows.

What you enter

  • Risk rows, each with a short description of the risk, a likelihood from 1 to 5, and an impact from 1 to 5; add as many rows as needed

Worked example

The example lists two risks. "One bookkeeper channel goes quiet" has likelihood 4 and impact 5, so it scores 4 × 5 = 20. "A shop export format changes" has likelihood 2 and impact 2, for a score of 4. The summary shows a highest score of 20 across 2 risks, with the bookkeeper channel at the top.

How is a risk score calculated?

Score = likelihood × impact. Both are rated from 1 to 5, so the highest possible score is 25 and the lowest is 1. Each row needs a name and both ratings; a rating outside 1 to 5 triggers a warning naming the risk.

Risks are sorted by score, highest first, and alphabetically when scores tie. The page calls the result a ranking of what you typed, not a risk opinion; it does not suggest mitigations or set a tolerance threshold.

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Tips before you use the result

  1. Agree on what each point of the scale means before scoring, for example impact 5 as a loss that threatens the business.
  2. Name risks as events that could happen, such as "a key channel goes quiet", not vague areas like "sales".
  3. Watch for high-impact, low-likelihood risks: a 1 × 5 scores only 5 but may still need a plan.
  4. Record owners and actions for top risks in your decision log or RACI; this register only ranks.

Frequently asked questions

What is a risk register?

A list of the risks an organization faces, each rated so the most serious ones get attention first. This template keeps it simple: a name, a likelihood from 1 to 5, and an impact from 1 to 5 for each risk, multiplied into a score and ranked.

How do you calculate risk score with likelihood and impact?

Multiply them. With both rated from 1 to 5, a risk with likelihood 4 and impact 5 scores 20 out of a possible 25. The template does this for every row and sorts the list so the highest scores come first.

What score counts as a high risk?

The template does not set a threshold; it ranks the risks you enter. Many organizations define bands on the 1 to 25 range, such as treating the top band as needing an owner and a plan. Agree on your bands with the board and apply them to the ranked list.

Does the risk register store my data anywhere?

Only in your own browser, on the device you use, with no registration. Risk descriptions can be sensitive, so nothing is uploaded to a server. Copy the ranked table into your board pack or risk report, or print it, and keep a dated copy each time you re-score the list.

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Results depend on the figures you enter; check them against your own records before you rely on them. Last updated: September 2026 · Kurums editorial team.