How to Make a Risk Assessment Matrix in Excel

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👍 Ready made and ready to use.
How to make a Risk Assessment Matrix in Excel.
Fill out this Risk Assessment and it will show you how many risks you have in each category - Sustainable, Moderate, Severe or Critical, before and after your controls. Perfect for your next project!
Timestamps:
00:00 Risk Assessment Overview
03:12 General sheet colours and headings
04:38 Making the risk matrix
07:07 Risk drop down lists
08:16 Automatic risk ratings
10:15 Colouring the risk ratings
11:43 Counting the risks in the risk matrix
15:30 Finished Risk Assessment
#ProjectManagement #Excel #Risk
All the Project Template videos in Excel and PowerPoint: • How to Create Excel an...

[@propertymathbyakashni]

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.

[@RahulSharma-pt6up]

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

[@jonothanduran2618]

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

[@assh8272]

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

[@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.

[@sanguinj]

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

[@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.

[@pedrohenriquecarneiro904]

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

[@juliankeya4662]

Great job, easy to comprehend and to put in use

[@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

[@brandonpowell2732]

Thank you David you are great teacher

[@jesusa1453]

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

[@AlexanderGrap]

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

[@hamodeosso6507]

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

[@betran2657]

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

[@norbertteston3567]

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

[@ntuthukosolomonmkhwanazi9205]

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

[@jadeforman1878]

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

[@brianwalker6170]

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

[@user-kv3rh7nh9z]

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

[@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

[@user-bh5rr5pb3e]

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

[@msifre5914]

Thanks for this excellent model and your inputs were great.

[@user-gh2dm8wj6y]

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.

[@OmbeniUwingeneye]

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

[@sofiyalototska2432]

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

[@ratedg2]

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

[@manuelmejia2730]

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

[@jacksonmagriplis6617]

Great stuff David, awesome channel.

[@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!

[@samontaos2]

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

[@Mosesshumbusho]

A very useful template. Thank you, David.

[@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

[@kalehiwotnardos3803]

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

[@marinav1796]

Thank you so much for such a useful video!

[@psel2501]

Great video - Thanks for sharing your risk matrix.

[@jrkns1981]

Thank you, man. I love this.

[@lawrenceosawe6770]

Good stuff! Thanks for sharing.

[@pedrohenriquecarneiro904]

A lot of cool tips in this video. Amazing.

[@tahaansari9490]

WOW this is amazing thank you!

[@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?

[@metasebiamulugeta8496]

quite helpful thanks a lot David,,

[@santanughosh7956]

Excellent tutorial!

[@vagafufagu2891]

This is absolutely one of the best videos. Clear explanations with the spreadsheet. I will use this in my projects. 👍👍

[@rifqifazriansyah6795]

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

[@kassimssemujju4957]

thank you very, this is exactly what I needed

[@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

[@syedghouri3441]

Thank you very much, appreciated your hardwork,

[@jwahlton]

This was done very quickly!

[@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.

[@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)

[@cmj13]

Very well formulated !

[@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.

[@emiliotrejo2586]

Great explanation, thanks!

[@massimobonzano227]

Fantastic!! Great content!!!

[@mezobiko22]

amazing effort , wish all the best

[@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...

[@connormaguire]

@@zatifkhan2120 did he email you the sheet? could i have a copy too haha

[@ZainalSinaga1]

Amazing, so helpful. Subscribed

[@nisarasadi9379]

Excellent.. very impactful

[@shoaibmq]

amazing... thanks learned a lot

[@KNizak-ev1ki]

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

[@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

[@eremiasbegashaw6716]

thank you so much David

[@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..

[@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

[@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

[@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

[@mohamedhersi2366]

Thank. Realy this matrix for risk management

[@edomarusenicholas1502]

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

[@TheJaebeomPark]

You are so good!

[@akinwunmizainab6070]

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

[@aihiareni8648]

Thanks for sharing.

[@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

[@user-my5vp1yt7n]

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

[@vaibhavmadiwal6329]

Very good, thanks

[@cboyda]

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

[@dvicmel]

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

[@themotobanditshow]

Saved my ass. got a sub from me. Had to fix one of my clients risk registers. Thanks David!

[@MasterplanMortgage]

Fantastic!

[@lexobsm]

thank you !

[@cjd3670]

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

[@aymano.elfadil3190]

Thanks alot

[@okotchono3822]

You are the best

[@TheXpress5310]

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

[@user-uj1rq6fh2x]

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

[@davidmclachlanproject]

It is my pleasure 🙂

[@Rythx]

Wow! that's cool !

[@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?

[@johntay5715]

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

[@sivarammallela1177]

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

[@joelboakye9928]

Awesome!!!

[@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.

[@shitalgavade9493]

Very good

[@AbdulMajeed-hx4jv]

Nice 👍

[@bravepakistan]

Bravo !

[@zafi2250]

thank you thank you thank you

[@droneshjoshi9816]

Hi David, great tutorial. I need little assistance, why my inherent matrix cells colors are getting delete after applying formula and I'm getting the count values too?

[@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!

[@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!!!!!!

[@MrWalksy06]

Hi great video. Is this template available rather than making it myself (not to that level with Excel currently) thanks

[@smmshow4678]

Hi, can you make a video or creating spread sheet for asset prioritization and criticality