Content Comparison

• Probability: Likelihood of the risk to occur

  • 1 = Unlikely

  • 2 = Likely

  • 3 = Almost Certain

• Impact: Consequences for the project if the risk occurs

  • 1 = Minor

  • 2 = Major

  • 3 = Critical

Risk Score: Calculated by Probability * Impact (1-9 scale, 9 most severe)

The Mitigation Strategy for a risk should address the risk in one of four ways:

• Avoid - pursuit of a completely different approach to the task, thus eliminating the risk

• Transfer - moving the risk elsewhere (supplier or other organization)

• Mitigate - developing a plan to reduce the consequence and/or the likelihood of a risk event occurring

• Accept - allowing the risk to remain and dealing with the consequences if it happens