Basically, youre controlling the data of your project so its easily accessible. In addition to documenting risks, a RAID log also includes assumptions or actions, an issues log, and dependencies or decisions. If there are major dependencies in a project that can prevent the project from moving forward, document them in the RAID chart. You also have the option to opt-out of these cookies. Resolved - The risk is not a problem. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Update the log regularly. As an example of an assumption, during the early planning phase, we might assume that we have access to 10 skilled specialists throughout the entire duration of the project. But thats the minimum, and if you have a more dynamic software then you have a more dynamic RAID log. As project and program managers it is your responsibility to record, monitor, and manage these dependencies.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'expertprogrammanagement_com-large-leaderboard-2','ezslot_4',624,'0','0'])};__ez_fad_position('div-gpt-ad-expertprogrammanagement_com-large-leaderboard-2-0'); A project management RAID Log Template is obviously a template that allows us to log and monitor risks, assumptions, issues, and dependencies. A RAID Log template helps project managers identify potential risks during the project planning phase. A RAID log could be as simple as a spreadsheet. Raid Log is one of the most powerful and comprehensive project management tools available in the market today. If using our RAID Log template then remember to delete or archive to a different Excel sheet closed issues so as not to distort the Issue Numbers calculation (you can see this miscalculation in the diagram above where there are 5 open issues but 6 are being reported in the Issue Numbers at the top of the sheet).if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,600],'expertprogrammanagement_com-large-mobile-banner-2','ezslot_8',672,'0','0'])};__ez_fad_position('div-gpt-ad-expertprogrammanagement_com-large-mobile-banner-2-0'); Next, on the sheet, we have space to record when each issue was last updated, when the next update on the issueis expected, and what next steps need to be performed to move towards resolving (closing) the issue. Spot risk before it becomes a problem. );}.css-lbe3uk-inline-regular{background-color:transparent;cursor:pointer;font-weight:inherit;-webkit-text-decoration:none;text-decoration:none;position:relative;color:inherit;background-image:linear-gradient(to bottom, currentColor, currentColor);-webkit-background-position:0 1.19em;background-position:0 1.19em;background-repeat:repeat-x;-webkit-background-size:1px 2px;background-size:1px 2px;}.css-lbe3uk-inline-regular:hover{color:#CD4848;-webkit-text-decoration:none;text-decoration:none;}.css-lbe3uk-inline-regular:hover path{fill:#CD4848;}.css-lbe3uk-inline-regular svg{height:10px;padding-left:4px;}.css-lbe3uk-inline-regular:hover{border:none;color:#CD4848;background-image:linear-gradient( By making this assumption it enables us to produce our plan. Similar to the A in RAID, D can stand for either decisions or dependencies. Consider the RAID log a shortcut, and any busy project manager will appreciate that, as time is precious when managing a project. The higher the level of detail of your RAID log, the better your project team's ability to handle any risk or issue that comes up. There's also a field to identify the importance of the risk based on its expected value and the thresholds that are defined in the second worksheet. Issues are different than risks, for example. Typically this will be done using an Excel spreadsheet. The reason? It is introduced at the project's initiation stage, where it's used to capture vital elements. It is introduced at the projects initiation stage, where its used to capture vital elements. A project is made up of a swarm of decisions, and that's just in one day, so while there are minutes in meetings, the RAID log captures those decisions that are taking place in a more informal setting. As for decisions, again this is merely a list of decisions that need to be made over the course of the project. Decide with your team if you want to implement this log in a document, spreadsheet, or a different type of software. A dependency in project management is a task that relies on the completion of a different task. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. As you can see, a RAID log is merely a method for keeping all this information organized and easily managed during the project. Start wrapping your arms around the art and science of the craft here. Issues come up in a project, and each one needs to be clearly identified here. So, its not a problem to access the RAID log. Some of the risks and issues that can come up are: Perhaps the biggest concern among project managers is whether they will get the resources they need throughout the project. Therefore, it is crucial for project managers to identify opportunities that help increase efficiency and quality. By having an easy way to capture, assess and take action each one reduces the overall risk in your project, and ensures there is alignment . Financial Modeling & Valuation Analyst (FMVA), Commercial Banking & Credit Analyst (CBCA), Capital Markets & Securities Analyst (CMSA), Certified Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management (FPWM). I'm asking this question because I'm starting to see more references to RAID logs in PM literature and I'm wondering if this is basically the same thing as tools I've always used, such as risk registers and issue logs. Doing so helps to prevent miscommunication and potential conflicts. As a project manager, it is yourresponsibility to ensure a Risk Management Process is undertaken, managing and mitigating risks, along with ensuring risks are routinely and effectively communicate with your stakeholders. Every risk and issue needs a mitigation plan. A risk register is an important component of any successful risk management process and helps mitigate potential project delays that could arise. Another version combines them to form a RAAIDD log. Note what the plan is for dealing with the issue, who is going to lead that initiative, what the schedule for review will be and how it will be marked done when resolved. RAID logs benefit stakeholders, project team members, the business, and you as the project manager. RAID logs are designed to be used repeatedly. The details can be automated by the software and edited as needed, plus its easy to prioritize. I generally don't use minutes from meetings to capture actions. Assumptions are things you assume will be true based on your professional knowledge and past experience, for example, that the tax on sales rate will remain at 15%, or that you will be provided the resources you need to complete the project. During project meetings, refer to this list and check off those actions that have been completed to make sure theres been follow through. What are the pros and cons of working in project management? If it is a possible risk, it gets documents either before or during the project. Outbound dependencies are where another team cannot start an activity before you finish (you can think of these as occurring at the end of a task). If you could go back and choose one sector of PM, what Press J to jump to the feed. Learn how your comment data is processed. It enables you to spot and manage risks. While some might be unimportant, others are not, and it is not always clear at the time which is which. 2. If you want further your . Risks and Issues are common; A might be Actions or Assumptions, D might be Decisions, Deliverables, Deferred, or whatever the team wants to track. It can be displayed as a scatterplot or as a table.. ISO 73:2009 Risk managementVocabulary defines a risk register to be a . The RAID log is only accurate when its updated regularly. Finally, each issue must have an owner who will ensure the next actions are performed and report on their status. A RAID log project management system is essential as it helps teams to paint a full picture of the project's limitations and potential issues right from the beginning. The one I used for my most recent project had 9 tabs and I named it the RAIDPlus Log. Gather qualitative data about each risk in your risk register. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. You need to act on postive as well to ensure it is communicated and potentially to update the business case. A RAID log is a project document that summarizes the following key pieces of information: As a project manager, you can use a RAID log to keep your stakeholdersand yourselfstraight on the latest project deets. It is a core application for any business or team and provides the basis for tracking performance improvement actions, collaborating . In this article, well explain what a RAID log is and why these logs are great tools to use for .css-1h4m35h-inline-regular{background-color:transparent;cursor:pointer;font-weight:inherit;-webkit-text-decoration:none;text-decoration:none;position:relative;color:inherit;background-image:linear-gradient(to bottom, currentColor, currentColor);-webkit-background-position:0 1.19em;background-position:0 1.19em;background-repeat:repeat-x;-webkit-background-size:1px 2px;background-size:1px 2px;}.css-1h4m35h-inline-regular:hover{color:#CD4848;-webkit-text-decoration:none;text-decoration:none;}.css-1h4m35h-inline-regular:hover path{fill:#CD4848;}.css-1h4m35h-inline-regular svg{height:10px;padding-left:4px;}.css-1h4m35h-inline-regular:hover{border:none;color:#CD4848;background-image:linear-gradient( RAID is an acronym that stands for Risks, Actions, Issues and Decisions. This has always been what we have been using in my company. Get the latest hacks and tips on getting more done as a project manager, as well as with your project team. These are the 20 common project risks which we have included in the risk register along with suggested mitigating actions and contingency actions. Plan as thoroughly as you like, youre still going to face problems, even if you use project planning software. When you have hundreds of projects in your portfolio, managing these items can quickly become a real costly problem. 4. That being said, Id contend that developing a RAID log is worth the extra effort. The Risk Register is updated in the Controlling a Stage process as the Project Manager will examine new risks and check on the status of existing risks. Is Lean 6 Sigma certification useful for being a PM? Having said that I don't see why we could not also include Decisions on the log. Book a demo. Next, we need to enter an impact and likelihood score, giving each a value . Like a lot of things it is simple to understand but takes effort to get right. The actions, whatever they are, need to be charted. To keep learning and advancing your career, the additional CFI resources below will be useful: State of corporate training for finance teams in 2022. RAID logs may be confused with risk registers or risk logs as there is some overlap between the two. All you need is a place to save the collected data. A RAID log, therefore, is a project management tool that tracks risks, actions, issues and decisions. Again, we begin byproviding an assumption name and description and describing the implication (impact) on the project if this assumption turns out to be false. Your risk register is the primary tool you will use to track and report project risks to stakeholders. For example: the user may have the potential to select the wrong drug but careful screen design, a sensible system formulary and user training will all help to reduce the risk - this is all good material for preserving in the hazard log. Here are my hot takes on how to approach these in your RAID log: RAID logs may be confused with risk registers or risk logs as there is some overlap between the two. Now you and your stakeholders have a detailed record of all the decisions that occur . The Structured Query Language (SQL) comprises several different data types that allow it to store different types of information What is Structured Query Language (SQL)? Then we need to provide the issue with a priority of either low, medium, high, or critical. In that way, RAID logs can help you learn and utilize your experience for future challenges. 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