Risk Management

Owned by Esther Ogunjimi, created
Last updated: Nov 10, 2022 by Wes Brown
1 min read

 Risks management

The aim is to identify and prioritize risks based on their probability and severity. Then define what further actions you need to take to control the risks, and who needs to carry out these actions.

Risk/issue rating

Choose rating based on the likelihood of the an event occurring (from most unlikely to most likely) and the severity of the issues that might arise if the event does occur (from trivial issues to major issues).

LOW

MEDIUM

HIGH

EXTREME

  • Acceptable

  • Ok to proceed

  • As low as reasonably practicable

  • Take mitigation efforts

  • Generally unacceptable

  • Seek support

  • Intolerable

  • Place event on hold