You can think of templates as re-usable projects. For instance, if you know that you need to perform an annual vendor evaluation, then it might be a good idea to create a template for this purpose. That way you won't have to redo all of your work each year. Also, before you get started with a particular task you might want to browse the public templates to see if anyone else has already performed similar work. It helps not having to reinvent the wheel sometimes, you know?

As you can see when browsing through the "Templates" tab there are two buckets. Templates that are private to your company (if any) are found in the "Our Templates" bucket. Templates that have been shared with the RiskKey community can be found in the "Public Templates" bucket.