Next: Risk Treatment
Stakeholders and subject matter experts identify risks.
Determine risk probability, risk impact and the conditions that cause each risk to occur.
Prioritize risks by probability and impact.
Create a tracker for risks that have been identified and prioritized.
Risk Management Plan
Develop a plan to treat, monitor and report prioritized risks.
Determine how you will accept, avoid, mitigate, transfer or share each risk.
Identify risks that are created by your risk treatments.
Plan what you will do when a risk actually occurs.
Implement risk treatments and contingency plans.
Monitor risks to identify when they occur or are about to occur.
Calculate risk measurements such as risk exposure.
Communicate risk measurements and events.
Evaluate your risk planning and management process.
Develop a culture of risk awareness and management.
Develop strengths that avoid risks in the first place.