Initial Project Risk Assessment Template for England and Wales

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Key Requirements PROMPT example:

Initial Project Risk Assessment

"I need an Initial Project Risk Assessment for a new healthcare software implementation project starting in March 2025, with particular emphasis on data protection compliance and integration with existing hospital systems. The project budget is £2.5 million and involves handling sensitive patient data."

Document background
The Initial Project Risk Assessment is a crucial document required at the beginning of any significant project in England and Wales. It serves as a fundamental tool for identifying potential risks, assessing their likelihood and impact, and establishing preliminary control measures. This document is essential for compliance with health and safety regulations, corporate governance requirements, and industry-specific standards. It helps organizations make informed decisions about project viability and resource allocation while providing a baseline for ongoing risk management throughout the project lifecycle.
Suggested Sections

1. Executive Summary: Brief overview of key risks and assessment methodology

2. Project Overview: Details of project scope, objectives, and stakeholders

3. Risk Assessment Methodology: Explanation of risk assessment approach and scoring criteria

4. Risk Categories: Breakdown of different risk types (operational, financial, technical, etc.)

5. Risk Register: Detailed list of identified risks with ratings and initial mitigation strategies

6. Risk Matrix: Visual representation of risk likelihood vs. impact

7. Initial Recommendations: Preliminary risk mitigation strategies and controls

Optional Sections

1. Industry-Specific Risk Analysis: Detailed analysis of sector-specific risks, used for projects in regulated industries

2. Environmental Impact Assessment: Analysis of environmental risks and compliance requirements, used for projects with potential environmental impact

3. Stakeholder Risk Analysis: Assessment of stakeholder-related risks, used for projects with multiple external stakeholders

4. Technology Risk Assessment: Analysis of IT and technical risks, used for technology-dependent projects

Suggested Schedules

1. Schedule 1: Risk Assessment Criteria: Detailed explanation of risk scoring methodology

2. Schedule 2: Risk Categories and Subcategories: Complete breakdown of risk classification system

3. Appendix A: Risk Assessment Templates: Standard forms and templates used in the assessment

4. Appendix B: Reference Documentation: List of relevant policies, procedures, and standards

5. Appendix C: Stakeholder Consultation Records: Documentation of stakeholder input and feedback

6. Appendix D: Risk Assessment Workshop Results: Outcomes from risk identification workshops

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses
Relevant Industries
Relevant Teams
Relevant Roles
Industries

Health and Safety at Work etc. Act 1974: Primary piece of workplace safety legislation in the UK that sets out general duties employers have towards employees and members of the public

Management of Health and Safety at Work Regulations 1999: Requires employers to assess and manage risks to their employees and others arising from work activities

Construction (Design and Management) Regulations 2015: Specific regulations for managing health, safety and welfare in construction projects

Environmental Protection Act 1990: Framework for integrated pollution control and waste management

Environment Act 2021: Updated environmental legislation covering air quality, waste, resource efficiency, and environmental governance post-Brexit

Environmental Permitting Regulations 2016: Regulations governing environmental permits for various activities that could impact the environment

UK General Data Protection Regulation: Post-Brexit data protection regulation defining how personal data must be handled and protected

Data Protection Act 2018: UK's implementation of data protection laws, working alongside UK GDPR

Companies Act 2006: Primary source of company law in the UK, governing company operations and director responsibilities

Employment Rights Act 1996: Defines basic employment rights including contracts, unfair dismissal, and redundancy

Equality Act 2010: Prohibits discrimination and promotes equality in the workplace and wider society

ISO 31000:2018: International standard providing guidelines for enterprise risk management

BS EN 31010:2019: Standard specifying risk assessment techniques and their application

UK Corporate Governance Code: Set of principles for effective board practice and corporate governance

Companies (Miscellaneous Reporting) Regulations 2018: Requirements for company reporting on governance arrangements and stakeholder engagement

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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