← VCE Software Development U4O2

A risk register: likelihood, impact and response

A table listing each project risk with its likelihood, impact and planned response (like backups), so the team can tackle the biggest risks first and review them often.

Part of: VCE Software Development - U4O2 - Cyber Security: secure software development practices — Module 129, 9-10 Digital Technologies: Project management — Module 8

Understanding A risk register: likelihood, impact and response in VCE Software Development U4O2

What it does: Saving to the cloud daily is a prevention step because it stops lost files from becoming a problem. A contingency plan says what the team will do after the risk occurs, such as switching to another device. The register helps the team act on the biggest risks first. High likelihood plus high impact means top priority. Impact is the size of the problem if the risk happens. Likelihood is the chance that it happens. Likelihood is rated, for example Low, Medium or High, to show how probable the risk is. Prevention actions, like regular backups, reduce the chance of a risk happening or its damage before it occurs.

Common mistakes: Likelihood is a rating of how probable the risk is, such as Low, Medium or High. Keeping backups is a response. The line should be 'Likelihood: Low'. The scale only goes from 1 to 3, so an impact rating of 7 is not valid. It should be a number from 1 to 3, such as 'Impact = 2'.

Class: _____________________  ·  Name: _____________________  ·  Date: _________

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This module's key terms are also in a printable crossword (Modules 97–130) and word search (Modules 49–130).

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Learning
Duo
Which column belongs in a risk register?
Likelihood, impact and planned response for each riskOnly the names of team members and their favourite apps
Matches
Risk: Lost files | Response: (blank)
↓
The register has no planned response, so the team will not know how to act on the risk.
Applying
Meanings
Term
risk register
Meaning
A table listing each project risk with its likelihood, impact and planned response (like backups), so the team can tackle the biggest risks first and review them often.
Practice
Risk | Likelihood | Impact | Response
Testing
Gaps
Risk,,Impact,Score,Response
Check Answer
Spots
1Risk: Laptop is stolen
2Likelihood: Keep backups

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Quick Questions

1. Which column belongs in a risk register?
A. Likelihood, impact and planned response for each risk ✓
B. Only the names of team members and their favourite apps
A risk register lists each risk with how likely it is, how bad it would be, and what the team will do about it.
2. A team rates a risk as High likelihood and High impact. What should they do?
A. Leave it until last, because big risks are boring
B. Tackle it first, because it is one of the biggest risks ✓
The register helps the team act on the biggest risks first. High likelihood plus high impact means top priority.
3. Which describes impact in a risk register?
A. How many days ago the risk was first noticed
B. How much damage the risk would do if it happened ✓
Impact is the size of the problem if the risk happens. Likelihood is the chance that it happens.
4. Which describes likelihood in a risk register?
A. The chance that the risk will actually happen ✓
B. The cost of the software used in the project
Likelihood is rated, for example Low, Medium or High, to show how probable the risk is.
5. Which is a prevention response for the risk 'We lose our project files'?
A. Save automatic backups to cloud storage every day ✓
B. Wait until the files go missing, then panic
Prevention actions, like regular backups, reduce the chance of a risk happening or its damage before it occurs.

Match the Pairs

Likelihood: High → Shows the risk is very probable to happen during the project
Impact: Severe → Shows the damage to the project would be big if the risk happened
A prevention response lowers the chance of a risk happening → Response: Save work to the cloud every day
A contingency response is a backup plan for if the risk does happen → Response: If the laptop breaks, use a school computer
Risk: Lost files | Response: (blank) → The register has no planned response, so the team will not know how to act on the risk.
Written once on day 1 and never looked at again → The register is never reviewed, so new risks are missed and old ratings go out of date.

Key Term

risk register
A table listing each project risk with its likelihood, impact and planned response (like backups), so the team can tackle the biggest risks first and review them often.

Fill in the Blanks

1. Risk,Likelihood,Impact,Score,Response
Hint: Type the column heading that shows how probable the risk is.
2. Data loss,3,5,=B2*C2,Keep backups
Hint: Type the operator that multiplies likelihood and impact to give a risk score.
3. IF score >= 15 THEN priority ← "High" END IF
Hint: Type the comparison operator meaning 'greater than or equal to'.
4. Prevention: save backups every week Contingency: restore the last backup
Hint: Type the word for the plan used after the risk has already happened.
5. Biggest risk score: =MAX(D2:D10)
Hint: Type the spreadsheet function that finds the highest value in a range.

Spot the Error

Question 1
A Risk: Laptop is stolen
B Likelihood: Keep backups
C Impact: High
D Response: Cloud backup
Line B — Likelihood is a rating of how probable the risk is, such as Low, Medium or High. Keeping backups is a response. The line should be 'Likelihood: Low'.
Question 2
A Scale: 1 (low) to 3 (high)
B Impact = 7
C Likelihood = 3
D Score = Likelihood * Impact
Line B — The scale only goes from 1 to 3, so an impact rating of 7 is not valid. It should be a number from 1 to 3, such as 'Impact = 2'.
Question 3
A Risk: Files get corrupted
B Prevention: Restore a backup
C Contingency: Restore backup
Line B — Prevention stops the risk from happening, for example saving work often. Restoring a backup happens after the files are lost, so it is a contingency. The line should be 'Prevention: Save work often'.
Question 4
A Reviewing the risk register:
B Check it every week
C Keep ratings the same forever
D Add any new risks
Line C — A risk register should be reviewed regularly. Likelihood and impact change as the project moves on, so the ratings need updating. The line should be 'Update ratings for each risk'.
Question 5
A A: Likelihood 3, Impact 3
B B: Likelihood 1, Impact 1
C A score 9, B score 1
D Act first on risk B
Line D — The team should tackle the biggest risk first. Risk A has the higher score (9 compared with 1), so it should be dealt with first. The line should be 'Act first on risk A'.

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