What is a Risk Report?

A Risk Report is similar to a summary or a storybook that recounts the story of all potential difficulties or uncertainties in your project. It’s similar to a weather forecast in that it details what may go wrong, how likely it is, and what impact it could have. It is a document that identifies and discusses all of the hazards discovered in a project. It includes information such as what could cause the risk, how serious it might be, and what steps are being done to manage or prevent the risk. It keeps project managers and stakeholders up to date on potential issues and the procedures being taken to ensure the project’s safety and success.