How to Make a Risk Assessment Matrix in Excel

[@DrAnimePhD]

I recently started work as an executive assistant and this video has been a godsend in building my registry spreadsheets. Thank you so much for the formulas and for teaching me things about Excel I had no idea about

[@reshmikunnath912]

Thank you, David! I just passed my PMP exam today in my first attempt. I just watched your entire PMP playlist. No other course taken!

[@davidmclachlanproject]

That is amazing 🙂 Congratulations on passing your PMP!

[@davidvose2475]

Nicely done. Good for one person entering data as they will have a consistent view of what 'Low' etc means. Be aware, this is not a tool or technique for a sizeable business because you cannot arrive at a total measure of risk, only count how many risks of each colour. 2 yellows might equal an orange - or not, 2 oranges equal a red - or not.

[@governanceriskcompliancegr9963]

Thanks David. In the Governance, Risk Management and Compliance (GRC) Risk Assessments, we use a similar kind of Risk Matrix to perform Inherent and Residual Risk Assessments. One improvement that may be added to your Excel template is the addition of "Key Risk Indicators (KRIs) and Risk Root Cause Analysis (RRCA) columns so that one may clearly understand the risk and control mapping, Risk Generating parameters, and Root Cause that made a particular risk as of High, Medium or Low Significance. Consultants and Risk & Compliance professionals need these additions because they have to go deep into the risk assessment process for relevant risk mitigation plans and decisions. These were just few of my suggestions for the Template enhancement, based on my experience. Thank you

[@davidmclachlanproject]

Those are great suggestions! Thank you 🙂

[@pabloandrade339]

Hi love your suggestion.. do you have any additional template or materials that explains this? I am new to risk assessment and I was wondering if you can share any additional information. Much appreciated..

[@vinaymjable]

Mr.David, this video is very useful and effective.Thank you for teaching us on this. I have one observation, when selecting Low in probablity and low in impact , the risk rating field is becoming blank. please guide me on this to correct it

[@assh8272]

Big thanks mr.david from saudi arabia 🇸🇦🇸🇦🇸🇦🇸🇦🇸🇦🇸🇦

[@michaeljcalleja]

Tried this and it worked perfectly! Thank you. Would help though if you could go through the formulaes at a slower pace though.

[@zatifkhan2120]

Sir, Could you please email me the Excel Sheet...

[@TheAfricanEngineer]

I cannot thank you enough for these videos. I passed PMP after Watching your videos and have been a fan ever since. Thank you

[@komalarif714]

Thank you Mr David. its really helpful.

[@emmanuelbasam1381]

Great tutorial! I am yearning to know how you created the Risk Matrix with all the different colors for Sustainable, Moderate, Severe, and Critical. Also, you promised to demonstrate how to move form Low, Medium, High and use numerals or figures. Can someone help me especially with how to create the colors in the Risk Matrix and link them with the Risk Assessment table's inherent and residual risks. Thanks

[@shabbiralam9329]

Nicely done and refreshing to see all formulations after a long time. this will be a good guide for developing templates

[@marrous4845]

Done it, thank you! I had to battle with US/UK formula syntax differences, it eventually worked!

[@per469]

Hi. What was your challenge with this? I am having some difficulties aswell but am struggling to solve it

[@marrous4845]

@@per469 US commas should be replaced with ; in formulas (ie semicolon)

[@jonothanduran2618]

Amazing job teaching how to effectively make a solid risk matrix. Highly approve.

[@RahulSharma-pt6up]

Thank you so much for all your time David, I prepared by myself after seeing your video, thanks a ton

[@ratedg2]

Did this for an assignment for school but am going to start using it for work, thanks!

[@محمدعلي-ب3س8خ]

شكرا جزيلا ديفيد استفدت كثيرا من هذا الفيديو رئيس قسم السياسة الاحترازية والمخاطر النظامية مصرف ليبيا المركزي

[@davidmclachlanproject]

It is my pleasure 🙂

[@cindya5043]

David, thank you much for this risk mitigation chart. It's brilliant! Question: What's the easiest way to add rows to risks without upsetting the tables on the right?

[@kalehiwotnardos3803]

amazing job teaching thanks so much please show the inherent risk count formula I cant make please show step by step

[@sunriseeternity300]

You talk about Risk Matrix's like Steve Erwin talked about animals. Thank You, great content as always. #riskmatrix #pmbok #pmp #capm #projects #riskmanagement #enjoylife

[@OmbeniUwingeneye]

Thank you so much, David. Your video helps me understand this and get ready for my upcoming assessment.

[@Mosesshumbusho]

A very useful template. Thank you, David.

[@georgeaggreyosodo5087]

Educative and relevant video, but try to explain the detailed process you use to insert all the data in excel please. I find it quite challenging

[@BoogsieClarke]

Crickey's! This show piece is on high-speed visuals!!

[@IhwanulIman]

Thank you, David, for your obvious explanation. The tutorial is handy and easy to implement.

[@lutzkonig7987]

Great application. Is it possible to write the risk IDs into the matrix instead the total number of risks by using the count function?

[@databuild-f1n]

Great video David, great speaking tone and depth of information.

[@pedrohenriquecarneiro904]

Very nice. It's cool the visualization of the risk after its control action.

[@rachelnarepua9050]

An excellent video! Thank you David. Are you able to do a version that can be incorporated into MS Power BI? That would be really helpful.

[@jesus1453-v1b]

The best risk assessment template I have ever seen, thanks so much

[@LizaIndina]

Thank you David, it helps me alot. It is very clear explanation, please share another risk models for the enviromental subject as now I am aiming the master degree in enviromental Study.

[@AdrianWalters-Girout]

I have done so many RA, but loved your video. Thank you David

[@Akashnipillayweimers]

Thank you, this was a very helpful video. It was well paced for an advanced Excel user and the model is overall simple to understand and use.

[@terri.yeah.]

Cool, finally I managed to write all formulas!!! But it was hard...for my level you are too quick 😞 If I can suggest, to dummies like me (😋😋), consider that these formulas work if your computer is set in English!! I had to translate it all in italian😜😜 Thank you!!!!!!

[@ntuthukosolomonmkhwanazi9205]

A big thank you David!!!!!!!!!, all the way from South Africa

[@jadeforman1878]

Excellent spreadsheet, thank you. I was able to replicate it easily.

[@manuelmejia2730]

Greetings from South America....You really helped me a lot, Thanks for everything!!!!

[@charityvugutsa8235]

Thank you so much David. That is well elaborated.

[@nge292]

I've just noticed your channel and I really like the content. I'm currently writing on my master thesis and your videos about SIPOC and Swim-Lane helped me a lot! I'm really interested into lean-management and related methods and concepts.

[@thomaschristy9163]

9:07

[@betran2657]

Thank you very much for the tutorial on setting this up.

[@omedlpg]

Thank you for the clear explanation.

[@ArfanMuhammad-n5l]

Wonderful teaching and Excel skills to explain risk matrix. Highly appreciated.

[@mezobiko22]

amazing effort , wish all the best

[@brianwalker6170]

This will help a lot of folks! Great explanation, keep making more and more videos.

[@vivianibekwe]

Thank you for the class on Risk Register. I found it quite resourceful. I would appreciate a copy of the Template with the example demonstration. The Impact would be very useful to me as well.

[@pedrohenriquecarneiro904]

A lot of cool tips in this video. Amazing.

[@brandonpowell2732]

Thank you David you are great teacher

[@psel2501]

Great video - Thanks for sharing your risk matrix.

[@AlexanderGrap]

Thank you for the clear, helpful tutorial and instruction on formulas! I will create something great!

[@santanughosh7956]

Excellent tutorial!

[@nsanch0181]

Thank you for the great video. Very neat quality tool and a lesson in excel at the same time!

[@emiliotrejo2586]

Great explanation, thanks!

[@nisarasadi9379]

Excellent.. very impactful

[@ElvyJ1211]

Hi David, this video is excellent, yep, I ended up purchasing the template. How would would I go about changing some of the terminology to match my current risk matrix? using terms Like Likelihood and Consequence, instead of severe-changing it to extreme etc...

[@davidmclachlanproject]

Good question. You can reach out to me on Etsy, but in general you can change the terms "Probability" or "Impact" anywhere you like, to anything else you like. For the terms "Very Low / Very High" etc, if you change those words in the table in column X and Y in the One Page sheet, they will change anywhere else in the sheet. For the terms like Moderate, Severe etc, if you change those words in the top risk table (O5 to U10 in the One Page sheet) they will update everywhere else in the sheet too. You would just need to update the conditional formatting to suit that new word.

[@pickleman01]

@David McLachlan Fantastic tutorial. Works a treat, THANKS! Question : in Risk Count table, how to adjust formula so only counting OPEN status Risks (not Closed status)? Thanks

[@jacksonmagriplis6617]

Great stuff David, awesome channel.

[@sanguinj]

Thank you so much David.....What a excellent way to explain . Sweet and Quick !!

[@zeleniawolfe]

Hi! Thank you so much for this tutorial! I have a question / request, can you make an example on how to map the hazard/variable into the risk matrix tabel instead of just counting the risk matrix itself?

[@zeleniawolfe]

Or the formula if your willing. Thanks!

[@syedghouri3441]

Thank you very much, appreciated your hardwork,

[@rifqifazriansyah6795]

Thank u so much, it’s really helpful.. hope u make more videos like this!

[@samontaos2]

Great video. Was able to develop a similar tool for our company. Thanks

[@johntay5715]

Superb! Lots of Excel lessons learnt from this Risk Matrix Template. Thank you for sharing this, Dave.

[@Elz121]

This is one of the best tutorials I’ve seen! Thank you so much. Helped not only at work but with my Masters Thesis! Thank you

[@hamodeosso6507]

Thank you so much for the inspiring risk assessment matrix. This has saved us so much time.

[@jwahlton]

This was done very quickly!

[@norbertteston3567]

that is SO SO COOL! thank you so much! truly appreciated the step by step guide to build this!

[@marinav1796]

Thank you so much for such a useful video!

[@MrPeanut102]

Great video, thank for putting this out there. Quick question, regarding the counter formulas on the matrix, Mine is not counting its coming up with zeros (0) how can I fix this? thanks again

[@msifre5914]

Thanks for this excellent model and your inputs were great.

[@jrkns1981]

Thank you, man. I love this.

[@juliankeya4662]

Great job, easy to comprehend and to put in use

[@TheJaebeomPark]

You are so good!

[@massimobonzano227]

Fantastic!! Great content!!!

[@Za1b0tthecat]

Amazing, so helpful. Subscribed

[@akinwunmizainab6070]

Great content, I would appreciate if other videos can be done at lower pace

[@KNizak-ev1ki]

Thank you, i need this lesson..... nice 💕

[@yz1831]

Thank you so much David! I love it. I had so much fun doing my matrices following your video. I subscribed to your channel around a year ago and sometimes I wonder why I am still a subscriber and then when I need it, I remember. I used to have a version of risk matrice but this one is much better! Thanks again for sharing such valuable content.

[@PreciousNwokoma-hh4mj]

Thanks for this David. How do you get to keep the colour when you copy the risk matrix? Mine just disappears as they are tied to the text.

[@shoaibmq]

amazing... thanks learned a lot

[@SaatvikaNagalia]

Great one. Would it be possible to get a copy of the template ?

[@cjd3670]

It's a great one. But what's the shortcut in deleting the contents but not colors of the duplicate matrix?

[@lawrenceosawe6770]

Good stuff! Thanks for sharing.

[@cboyda]

Great template, could you consider doing a video on AI incorporation as PM tools?

[@moeie]

Hello! I would love to just buy this template alone. Is that possible?

[@davidortega3393]

Question David: Do you have a method of quantifying or qualifying high/medium/low probability or impact? What I've found conducting risk assessments is that people often don't know whether the probability of an event occurring is high/medium/low, and their definition of high/medium/low impact is very subjective.

[@davidmclachlanproject]

Yes, good question! We'd usually tackle this with Risk Definitions, where we outline what the "Impact" and "Likelihood" mean specifically at each level (i.e. a specific cost, or a specific number of occurrences). It will often be different in different projects, teams or industries, so it's a good idea to get together as a team and brainstorm / decide together. Good fun! 🙂

[@kassimssemujju4957]

thank you very, this is exactly what I needed

[@josephking6913]

Hey, I love the sheet but I'm more interested in how you recorded yourself infront of the sheet..if you could share I'd appreciate it.

[@tuanhoangzx1802]

Thanks David

[@cmj13]

Very well formulated !

[@derienneblack7553]

Hi David, thank you for the tutorial! Instead of counting the risk, is there a way to list the ID of an occurrence on the matrix chart?

[@markmather89]

Hi there, have you worked this out yet as this is what I am trying to do on it?

[@sofiyalototska2432]

Incredible video, it helped so much at my work! Thank you so much🤩🎯

[@submariner99]

Very nice looking but to make it more useful I would like to know how to add additional rows and for these additional rows to be automatically included in the count analysis. Also maybe to automatically sort them according to the risk as you go along.

[@metasebiamulugeta8496]

quite helpful thanks a lot David,,

[@williamfalcon7351]

I am sure what you are mentioning is relevant but i was hoping to understand it all from the start ! probably my lack if knowledge in excel

[@TheXpress5310]

One of the best tutorial I've ever seen.. Hut off Sir

[@roxanaalina9379]

Very helpful

Exellent work. 👍

[@eremiasbegashaw6716]

thank you so much David

[@edomarusenicholas1502]

Thank you very much Dave, It was quite informative. Can i have a template of this?

[@sivarammallela1177]

Impactful and understandable, will be Super cool if you provide that here :P

[@dvicmel]

Hi David, the matrix seems excellent, However the formula is giving me error. I'm using excel 2019. Hope you can help me