Identify risks that may affect project outcome, document them in the project's Risk Register (Log). The Risk Register usually includes the following: Unique identifier for each risk. Description of each potential risk event and how it could affect the project. Assessment of the likelihood of occurrence and the impact/seriousness if it does. Grading of each risk according to a Risk Scoring Matrix. Who is responsible for managing the risk? Strategies proposed for dealing with the risk (preventative and contingency). (In larger projects) A sizing for each risk response/mitigation strategy