Risks, Actions, Issues, Decisions (RAID) is a project management abbreviation. A RAID log is a document that lists a project's known RAID items, and provides a way to monitor RAID progress and ensure that RAID items addressed.
Components:
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Risks are potential events that could have a negative impact. The RAID log lists each risk, the likelihood of it occurring, the potential impact of it, and the steps that will be taken to mitigate it or manage it.
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Actions are tasks that need to be completed to keep the project on track. The RAID log lists each action, who is responsible for it, the target date for completion, and the status of it.
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Issues are problems that arise during the project that need to be addressed. The RAID log lists each issue, the impact of it on the project, who is responsible for addressing it, and the status of it.
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Decisions are choices made by the project team that impact the direction of the project. The RAID log lists each decision that has been made, who made it, the date it was made, and the impact of it on the project.
By using a RAID log, project managers can proactively identify potential risks and take steps to mitigate or manage them before they become major issues. It also provides a central location for tracking all important information related to the project, ensuring that nothing falls through the cracks. The RAID log can be used as a tool for communication with stakeholders to keep them informed about the project's progress and any potential concerns.