The RAID Log
The RAID Log lists all the Risks, Actions, Issues and Decision you encounter in governing the development and/or execution of a strategy.
In simple terms:
- Risks: things that could go wrong. If they do, they usually become issues (see below).
- Actions: things you will do or have done.
- Issues: problems that need to be addressed. These may have started out as risks.
- Decisions: choices you have made.
Risks, Actions, Issues and Decisions can exist in their own right. But they are usually attached to other elements of a strategy, such as Insights, Goals, Initiatives, Competitors, or strategy governance such as Meetings. You can also assign Stakeholders to Risks, Actions, Issues and Decisions to show who is involved in or impacted by them.
The RAID Log consists of 4 lists, one for each of Risks, Actions, Issues and Decision.
Risks can also be shown in a Matrix form with Probability and Impact on the axes. This can help you to identify, for example, your highest probability highest impact risks. These usually require the most attention.