RAID Log Template Excel

RAID Log Template Excel

What is RAID Analysis?

RAID stands for “RISK, ASSUMPTION, ISSUE, DEPENDENCIES.” Just like other project management techniques RAID analysis is a tool used initially in the project planning phase. In such a manner RAID log document is generated which carries details regarding project risks, assumptions, issues, and dependencies.

This template can be reviewed and updated to check the project status. All the content of this log is arranged according to its impact on a project.

So, it easily shifts the attention towards the risks with a greater influence rating. A project manager can use the RAID log excel template or develop their body with the personalized rating style or pattern. RAID analysis is considered a professional tool to improve project management and its effectiveness.

What is a RAID LOG

To clear out the concept of RAID analysis, all characters are explained separately.

Risk

It can be anything that can play a hurdle in the growth of a project. For example, in a construction project lack of labor or any specific material is a big risk that can impact the progress of the project. The “R” is RAID analysis lays great stress on figuring out these risks and managing them before they start to affect the progress.

Assumption

Assumptions can either be negative or positive. Let us assume something positive that will help your project to achieve its targets on it. For example, if the laborers are meeting their daily goals, the project is likely to reach the main goal on time. Similarly lag in performance can hamper the success of the project.

RAID Log Template Excel

Issue

I” in RAID analysis stands for issues the project plan is currently going through. If the issues are resolved on time the project will not suffer a bigger setback in the future. Issues are highlighted and forwarded to the concerned team member then they work on these issues and find the best alternatives.

Dependencies

A project has other underlying factors called dependencies. These are some major triggers on which the growth is dependent. Sometimes this trigger can be internal or external. For example, the lack of proper marketing of a project is an internal factor on the other hand another project happening with the same outcomes can be a factor on which the success of the project is dependent.

The description of RAID analysis clears out some common confusion regarding the use of this template. It hits the 4 key areas that hold great importance in a project. By carefully resolving these 4 problem areas you can set the project in a better direction.

If the RAID analysis is carried out regularly the project is likely to face fewer issues than a project without it. So, overall RAID analysis is a noteworthy tool in project management. There are different templates for the RAID log, each is based on these 4 main characters. A project manager can make it a part of their management plan to keep the project running at a better place.

Why Maintain a RAID Log?

There are different analysis methods in project management like SWOT, SOAR, and RAID analysis. These methods are used according to the preference of a project manager. Also, the method is selected in accordance with the requirement of a project. The nature of the project sets the analysis method. RAID analysis is most liked by the project manager due to its effectiveness and durability. A list of reasons to maintain RAID analysis is given below;

  • It provides a broad analysis of the factors that can contribute in some way to a project. The application of RAID analysis starts in the initial phase of the project. The project manager incorporates this method in the planning meetings of the project.
  • The RAID log is updated on regular basis to get review the issues occurring in a project. In this way, the issues are resolved and the project stays on the right track.
  • RAID analysis keeps the team connected on the same page. When the team is working collectively it is easier to probe the risks that a project may face in the future.
  • Note down the factors (internal or external) affecting the progress of a project.
  • Keep a check on the project resources.
  • Keep the stakeholders involved and take their advice when the risk occurs.
  • Try to engage all the departments in the progress of their project because any organization can flourish with collective effort and team support.

How To Use a RAID Log in Project Management

Every project manager has their unique way of using the RAID log Template but there are common steps a team goes through to perform RAID analysis effectively.

  • The first step is to arrange a meeting and discuss all the matters that can impact the progress of the project.
  • Call the stakeholder and investors to the meeting for important discussions. Make sure that all the team members participate in this meeting. Make a formal invitation and send it out to concerned persons.
  • Discuss the core plan regarding risks, assumptions, issues, and dependencies. Note down the points after the meeting is concluded.
  • Send a copy of the results to the team, stakeholders and investors.
  • Keep reviewing the RAID log template and update it if any changes occur.

Sample RAID Log Template

Templates are made to easily adopt an analysis process. RAID log can have different contents but the most simple and common ones are mentioned here;

  • On the top Project name or title is mentioned
  • Just beneath the title name of the project manager is given
  • On the right top corner project, ID, and name of the project sponsor are written
  • Now, the data is organized in columns;
  • Action number
  • Date the issue is raised
  • Area or domain of issue
  • Priority level on which issue is to be resolved
  • A person responsible to take action
  • Deadline for the action to be taken
  • Progress in the action
  • Status

Following this pattern spreadsheets for risks, actions, issues, and decisions are created.