01
Describe the risk clearly
Project Management / Open project / Execution / Risks
State the cause, uncertain event and potential consequence.
Project Manager
QUICK GUIDE 17
Manage project risks
Identify, assess and reduce threats before they become project issues.
02
Assess probability and impact
Project Management / Open project / Execution / Risks
Apply a consistent assessment so significant risks can be prioritized.
03
Assign ownership
Project Management / Open project / Execution / Risks
Give one person responsibility for monitoring and coordinating the response.
04
Create mitigating actions
Project Management / Open project / Execution / Action List
Define actions that reduce probability, impact or both.
05
Review residual exposure
Project Management / Open project / Execution / Risks
Update the assessment as actions progress and include material risks in reporting.