Simple Guide To Understand Project Risk

Published on Nov 21, 2015

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PRESENTATION OUTLINE

SIMPLE GUIDE TO UNDERSTAND RISK

THE 3 QUESTIONS TO ASK
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PROXIMITY

WHEN IS THE RISK LIKELY TO HAPPEN

PROBABILITY

WHAT IS THE CHANCE OF THE RISK HAPPENING
Photo by Scott Wurzel

IMPACT

IF IT HAPPENS HOW BAD COULD IT BE
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SCORE FROM 1 TO 3

  • Score probability
  • Score impact
  • 1 is low 3 is high
  • Multiply the two together
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ANSWER

  • 1 or 2 Low Risk
  • 3 or 4 Medium Risk
  • 6 or 9 High Risk
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NOW MITIGATE

REDUCE THE LIKELIHOOD OF THE RISK HAPPENING AND LESSEN THE IMPACT