I used to have them, only very simple format with a traffic light type of recording for low, med, high risk and didn't actually take long to do.. reviewed it every 6 months.
I had them all together on a couple of sheets... Ofsted loved them..
Also had a few for individual things we found could be an issue.. like the tree in our garden which I allowed children to climb

and which also had a head bumping hight branch.. did have a few children who did that so we wrapped it in bubble wrap, and it worked, Mrs Ofsted said she would always remember us for the group with the bubble wrapped tree!
Inge