The government party will need to establish and maintain systems for recording and analysing the information collected.
A recommended tool for collating risk information is a risk matrix or risk register. Each material risk is described in the risk matrix, together with an assessment of its likelihood and severity, and a summary of the relevant controls and mitigants.
By collating risk information in one place, a picture of government's overall risk exposure resulting from the project can be developed. The risk matrix should be a dynamic document, reviewed and updated regularly throughout the project lifecycle, to ensure it accurately reflects the risks faced. The example in Template E shows a basic risk matrix, which can be tailored as required.
In addition, the contract management team may create issues logs to keep a record of risks, obligations and other issues that it must manage. The example in Template F shows a basic issues log, which can be tailored as required. As discussed in section 4.3, it is common for the contract management team to keep two issues logs: a joint issues issue log for sharing with the private party, and a State issues log.