How to Create Your First Risk and Generate a Risk Register

Creating your first risk establishes the foundation for comprehensive project risk management. Once you've added risks to your project, you can generate a complete risk register to share with stakeholders and track throughout your construction project lifecycle.

Before you start:

• Prepare risk information including causes, impacts, and potential treatments
• Review your organisation's risk management standards
• Confirm your risk categories are configured (contact Mastt support for customisation)

Steps

Create your first risk

1. Select Risk Module from the side navigation bar in your project.
2. Click the + Add Risk blue button in the upper left corner
3. Fill in Risk Details:
   • Title: Name your risk clearly (e.g., "Weather delays during excavation")
   • Status: Select from Active, Draft, Realised, or Retired
   • Risk Number: Auto-increments but can be customised
   • Key Risk: Toggle on if this is the most significant risk for your project.
   • Description: Provide a detailed explanation of the risk

Set risk categories and dates

1. Select Primary and Secondary Categories from the dropdown menus
2. Set Risk Review Dates for regular assessment
3. Add Possible Realised Dates if applicable

Add causes (optional)

1. Click the Causes tab
2. Select + Add Causes
3. Enter the cause name, status, and description
4. Click Save

Configure impacts and treatments

1. Navigate to the Impacts and Treatment tab
2. Click + Add Impact
3. For each impact, enter:
   • Title and description
   • Status
   • Pre-treatment risk rating
   • Pre-treatment cost and delay estimates
   • Post-treatment risk rating (likelihood and impact)
   • Post-treatment cost and delay estimates
4. Within each impact, click + Add next to Treatments
5. For each treatment, provide:
   • Title and description
   • Status
   • Responsible person or organisation

Set up cost provisions

1. Return to the Risk tab
2. Toggle on Cost Module
3. Enter cost amount (defaults to total post-treatment impact cost)
4. Set Factor Percentage if your organisation uses risk likelihood factors
5. Select the Budget for the risk provision
6. Click Save to complete

Generate your risk register

1. From the Risk Module main page, locate the Download Excel button
2. Click Download Excel to export the standard Risk Register format
3. Your Excel file will include all risks with their causes, impacts, treatments, and cost provisions

To view more details on editing and deleting risks, click here.

Tips for your first risk

• Start with high-impact, high-likelihood risks to demonstrate value
• Use specific, measurable descriptions rather than vague statements
• Assign clear ownership for treatments to ensure accountability