Templates
Quantitative risk analysis template

Quantitative risk analysis template

Assess risks numerically with this template. You’ll be able to prioritize actions and align strategies with your organization’s goals.

Use this template with Lumiform

The Lumiform application helps frontline teams uphold internal standards effortlessly.
  • Customize this template or build your own
  • Fill out templates via mobile app
  • Assign and track corrective actions
  • Get reports and analyse your data
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Learn more
or Download template as PDF
Quantitative risk analysis template

Assess risks numerically with this template. You’ll be able to prioritize actions and align strategies with your organization’s goals.

Use this template with Lumiform

The Lumiform application helps frontline teams uphold internal standards effortlessly.
  • Customize this template or build your own
  • Fill out templates via mobile app
  • Assign and track corrective actions
  • Get reports and analyse your data
Prices start from ░░░ per month
Book a demo
Learn more
or Download template as PDF

Our quantitative risk analysis template template empowers you to make confident project decisions using measurable data. It guides you through assigning numerical values to risks, calculating exposure scores, and developing mitigation strategies. For instance, when facing budget allocation decisions for a critical project, you can quantify the financial impact of potential delays or resource shortages.

Research shows that organizations with robust risk management in their project processes are better at handling uncertainties, satisfying stakeholder needs, and staying competitive. With this template, you’ll go beyond gut feelings to precise risk intelligence.

Related categories

Preview of the template
Entity
Page 1
Risk Identification
Identify the potential risks associated with the project.
Describe each risk in detail.
Risk Analysis
Determine the probability of each risk occurring.
Estimate the potential impact of each risk.
Calculate the risk exposure (probability x impact) for each risk.
Risk Response Planning
Identify strategies to mitigate or manage each risk.
Assign risk owners and responsibilities.
Develop contingency plans for high-priority risks.
Risk Monitoring
Monitor and track the status of identified risks.
Evaluate the effectiveness of risk response strategies.
Identify new risks that may arise during the project.

Frequently asked questions

How do I calculate risk exposure in this template?

Risk exposure is calculated by multiplying probability (as a percentage) by potential impact (typically in monetary terms). The template guides you through assigning these values for each identified risk, then automatically calculates the exposure score. This numerical approach helps you prioritize risks objectively and allocate resources where they’ll have the greatest effect on reducing overall project risk.

Which risks do I tackle first after completing the quantitative analysis?

After calculating exposure scores (probability × impact), the template automatically ranks risks from highest to lowest exposure. Focus first on high-exposure risks with effective, affordable mitigation options. The template’s “Risk Response Planning” section helps you document strategies for each prioritized risk, including mitigation costs, which enables cost-benefit analysis of your risk management activities.

How can I determine the financial impact of intangible risks like reputation damage?

For intangible risks, consider secondary effects that can be quantified. The template includes sections where you can estimate costs of crisis management, lost business opportunities, customer acquisition to replace those lost, and temporary revenue decreases. While not perfect, these measurements incorporate important intangible risks into your quantitative analysis rather than removing them completely.

This template, developed by Lumiform employees, serves as a starting point for businesses using the Lumiform platform and is intended as a hypothetical example only. It does not replace professional advice. Companies should consult qualified professionals to assess the suitability and legality of using this template in their specific workplace or jurisdiction. Lumiform is not liable for any errors or omissions in this template or for any actions taken based on its content.