Project risk register template with a 5×5 matrix in Excel
A free Excel template for a project risk register: you rate probability and impact from 1 to 5, and the score, level and colour are calculated for you. The second sheet holds a 5×5 risk matrix that shows how many risks that are not closed fall into each cell.
What’s inside
Two sheets: Register, with room for 30 risks, and 5×5 matrix. The register already holds 4 example risks with owners and responses.
- Risk
- What could go wrong — short and specific.
- Category
- A drop-down list: Schedule, Budget, Scope, Technical, People, Supplier.
- Probability and Impact
- Whole numbers from 1 to 5.
- Score
- Probability × impact, from 1 to 25 — a formula.
- Level
- High from 15 points, Medium from 8, Low below that — in red, amber and green.
- Owner
- Who watches the risk and is responsible for the response.
- Response
- What we do so that the risk does not happen or does less harm.
- Due
- When the response should be done.
- Status
- A drop-down list: Open, Monitored, Closed.
What the file does by itself
- Score and level appear as soon as probability and impact are filled in.
- The 5×5 matrix counts the risks that are not closed in every cell with COUNTIFS: close a risk and it leaves the matrix.
- The matrix cells use the same scale as the levels: red from 15 points, amber from 8, green below.
- The header and the number and risk columns stay in place when you scroll.
How to use it
- Download and open the file.If Excel shows Protected View, enable editing — the scores and the matrix then recalculate.
- Write down the risks.One row per risk: what could happen, its category and its owner. The example risks show the format.
- Rate probability and impact.Each from 1 to 5: the score and level appear by themselves, and the risk lands in its cell of the matrix.
- Review the register every week.Update responses and statuses. Closed risks leave the matrix, so it shows only what can still happen.
Questions and answers
How is the risk level calculated?
The score is probability multiplied by impact, from 1 to 25. From 15 points a risk is high, from 8 medium, below that low; these thresholds sit in the formula of the Level column, and you can change them.
What does the 5×5 risk matrix show?
How many risks that are not closed each combination of probability and impact has. Rows are probability from 5 to 1, columns are impact from 1 to 5, and a cell’s colour matches the risk level.
Can I add my own categories?
Yes: the categories are a data validation list in the Category column. Change it in Excel’s data validation settings.
Does Syntra keep a risk register?
Yes: every project in Syntra has risks with a level, a response plan and a status, and the portfolio risk register exports to PDF or Excel (from the Starter plan). Syntra has no 5×5 matrix — a risk’s level there is one of three: low, medium or high.
Keep the plan alive in Syntra
In a spreadsheet a risk lives only as long as its author remembers it. In Syntra a risk belongs to the project: it has a level, a response plan and a status, the assistant records new risks from meetings and documents, and the portfolio register exports to PDF or Excel.
Try for free →Free for up to 3 people, no card needed. Syntra is in closed beta: the team reviews a new workspace before activating it.