A RAID log is the tool that tracks risks, assumptions, issues and dependancies. It’s a simple way to organize this information for project meetings and audit purposes.
A Project Risk is an uncertain event or condition that, if it occurs, has an effect on at least one project objective. Risk management focuses on identifying and assessing the risks to the project and managing those risks.
Project Assumptions are things which you expect to be true but may not have the evidence to support it. Project Assumptions could be events or circumstances which you expect to occur in the lifecycle of a project
Issue management is the process of identifying and resolving issues. Problems with staff or suppliers, technical failures, material shortages, these differ from Risks as they have already occurred
Project Dependancies are simply project activities which have a reliance upon another activity - for example a Project may not be able to proceed until it has been approved by a sponsor.