Risk Tolerance
Identify the risk tolerances of your organization, department or business unit.
Risk Identification
Listing out possible negative outcomes.
Business Impact Statements
Document the potential business impact of risks.
Risk Impact
Estimate the impact of risks as a cost.
Risk Probability
Estimate the probability that risks will occur.
Risk Exposure
Calculate the likely cost of risk as impact × probability.
Opportunity
Compare opportunity to risk using measures such as risk-reward ratio.
Risk Response
Decide how you will control each risk. This includes the possibility of simply accepting the risk.
Risk Treatments
Identifying possible risk treatments.
Risk Controls
Design internal controls for risk mitigation.
Risk Trigger
Identify the conditions that cause the risk to occur.
Moment of Risk
Analysis of the likely timing of risks.
Risk Contingency
Plan what you will do if each risk actually occurs as an issue.
Residual Risk
Calculate the risk that remains after risk treatments.
Secondary Risk
Identify the risks created by risk treatments.
Risk Cost
Calculating the cost of risks that actually occur.
Risk Register
Maintain a list of outstanding risks.
Risk Management Plan
Develop a plan for controlling and monitoring risk.
