Identify Potential Risks and Define Consequences

Explanation

This activity is used to register a risk which is the problem combined with the consequence.Risk consequence type can be either Threat or Opportunity. By performing this task now have the ability to register the consequence at the same time entering a risk. For the consequences, probability and impact estimates are made which then calculate risk severity and risk cost exposure/opportunity potential.

Probability estimates can be made using a rating selection such as High, Medium, Low which is converted into a percentage for the system calculations. Where there is more accurate data available, you can alternatively choose to enter a percentage value - the system then selects the relevant rating selection from the base data.

Similarly, the cost impact can be entered using a simple rating selection or else a numerical value in the risk currency can be entered.

Prerequisites

The risk analysis ID must already exist.

System Effects