AI Risk Register Template: How to Document and Track AI Risks
Executive Summary
- A risk register is the central document for tracking, managing, and reporting AI risks
- Effective registers capture risk details, assessment scores, treatment plans, and status
- This template provides a ready-to-use format with example entries
- Maintain one register per AI system or one consolidated register with system tags
- Regular review (monthly or quarterly) keeps the register current and actionable
- The register supports governance committee reporting and audit requirements
- Document format matters less than consistent use—choose what works for your organization
Risk Register Core Fields
| Field | Purpose |
|---|---|
| Risk ID | Unique identifier |
| AI System | Which AI system |
| Category | Risk type |
| Description | Clear description |
| Likelihood | Probability (1-5) |
| Impact | Consequence (1-5) |
| Risk Score | Likelihood × Impact |
| Treatment | Mitigate, transfer, accept, avoid |
| Owner | Person accountable |
| Status | Open, in progress, closed |
Example Risk Entry
Risk ID: AI-2024-001
AI System: Customer Service Chatbot
Category: Accuracy
Description: Chatbot provides incorrect information
Likelihood: 3 (Possible)
Impact: 4 (Major)
Risk Score: 12 (High)
Treatment: Mitigate
Owner: [Customer Service Director]
Status: In Progress
Mitigation Actions:
1. Implement confidence scoring | Due: Oct 15 | In Progress
2. Add escalation to human agents | Due: Oct 30 | Complete
Summary Dashboard Template
RISK SUMMARY
━━━━━━━━━━━━
TOTAL RISKS: 12
By Score:
Critical (20-25): 1
High (15-19): 3
Medium (8-14): 5
Low (1-7): 3
By Status:
Open: 4
In Progress: 6
Closed: 2
Overdue Actions: 2
Review Cadence
| Activity | Frequency |
|---|---|
| Add new risks | As identified |
| Update action status | Weekly |
| Full register review | Monthly |
| Governance reporting | Quarterly |
| Risk reassessment | Annually |
Frequently Asked Questions
Next Steps
Download the template and adapt it to your organization. Start by documenting risks for your most critical AI systems.
Book an AI Readiness Audit with Pertama Partners for help establishing your risk management framework.
Related Reading
- AI Risk Assessment Framework: A Step-by-Step Guide
- 10 AI Risks Every Executive Should Understand
- How to Report AI Risks to Your Board
Frequently Asked Questions
Either works. Spreadsheets are simple and accessible. Dedicated GRC tools offer workflow, audit trails, and reporting. Choose based on organization size and compliance needs.
