A risk report template is the central document for communicating overall project risk exposure and key information about individual project risks to stakeholders and the project management team. According to the Project Management Institute (PMI), the risk report is a key output of the Risk Performance Domain in PMBOK 8, developed progressively across five processes: Identify Risks, Perform Risk Analysis, Plan Risk Responses, Implement Risk Responses, and Monitor Risks. A well-maintained risk report transforms the detailed data in the risk register into a concise, decision-ready summary for stakeholders who need insight into overall risk exposure without examining every individual risk entry.

What is a Risk Report?

A risk report template is a structured document that presents information on the sources of overall project risk, together with summary information on identified individual project risks. In PMBOK 8, the risk report is created as an output of the Identify Risks process and progressively elaborated as the project advances through risk analysis, response planning, implementation, and monitoring. When Identify Risks is completed, the risk report includes the sources of overall project risk indicating which are the most important drivers of overall risk exposure, and summary information on identified individual risks such as the number of threats and opportunities, distribution across risk categories, key metrics, and trends. As risk processes continue, the report is updated to reflect the results of Perform Risk Analysis, Plan Risk Responses, Implement Risk Responses, and Monitor Risks.

What's Included in This Risk Report Template?

• Overall Risk Exposure Summary - An assessment of the project's overall risk level based on the combined effect of all identified individual risks, expressed qualitatively or as a quantitative probability of meeting cost, schedule, and scope objectives.
• Risk Category Breakdown - Distribution of identified risks across categories (technical, external, organizational, project management), identifying which categories contain the highest concentrations of threats and opportunities.
• Top Risks by Priority - A ranked list of the most significant individual project risks by probability-impact score, with the assigned risk owner and current response strategy for each.
• Risk Trend Analysis - Changes in overall risk exposure since the previous report, including risks that have increased or decreased in severity, new risks identified, and risks closed.
• Response Implementation Status - Current status of planned risk responses, including actions in progress, completed responses, and any responses that are overdue or blocked.
• Reserve Analysis Summary - Status of contingency and management reserves relative to remaining risk exposure and the estimated cost of residual risks.
• Key Risk Indicators - Early warning metrics and trigger conditions that the project team is monitoring as leading indicators of potential risk events.

How to Use This Risk Report Template (PMBOK 8)

1. Create the initial report during the Identify Risks process - Populate the overall risk exposure summary and category breakdown as soon as the first risk identification session is complete. Even an early-stage report with incomplete data is more useful than no report.
2. Update after each risk analysis session - After Perform Risk Analysis, add quantitative or qualitative analysis results to the overall exposure section and refresh the top risks ranking based on updated probability-impact assessments.
3. Refresh response status at every status meeting - The risk report should reflect the current implementation status of all planned responses. Outdated response status information makes the report unreliable as a decision tool.
4. Distinguish the risk report from the risk register - The risk register contains all detail for every individual risk. The risk report summarizes that detail for stakeholders who need the bigger picture. They serve different audiences and should be maintained separately.
5. Include reserve analysis at key milestones - At phase gates and major milestones, compare remaining contingency reserves against the estimated cost of residual risks. This comparison informs go/no-go decisions.
6. Archive report versions throughout the project - Successive versions of the risk report document how overall project risk evolved over time, providing valuable input to the lessons learned register at project close.

When to Create This Document (PMBOK 8)

The risk report is first created as an output of the Identify Risks process, which should begin early in the project before the project management plan is finalized. In PMBOK 8, the risk report is not a one-time deliverable: it is updated as an output of all five risk management processes and should be distributed to stakeholders at regular intervals as defined in the communications management plan. The reporting frequency and level of detail are established in the risk management plan based on project complexity, stakeholder needs, and organizational requirements.

Related Templates

• Risk Register Template
• Risk Management Plan Template
• Issue Log Template
• Change Requests Log Template
• Work Performance Information Template

Complete Guide & Filled-In Example

Get the most out of this template with the two companion resources below:

• Risk Report in PMBOK 8 - Complete Guide - Understand the purpose, key elements, and best practices before filling in the template.
• Download the Filled-In Example - Project Phoenix - See exactly how this document was completed for a real $72K website launch project.