risk assessment

Identify the sources of data for the risk assessment

Collect relevant data on the project or activity

Document the data sources and ensure data integrity and reliability

Organize and categorize the collected data for analysis

Identify potential risks associated with the project or activity

Analyze historical data and trends to identify recurring risks

Consider external factors and events that may pose risks

Document the identified risks and their characteristics

Assess the likelihood of each identified risk occurring

Evaluate the potential impact or consequences of each risk

Determine the level of risk based on the likelihood and impact

Analyze the dependencies and interactions between different risks

Prioritize the identified risks based on their level of severity

Consider the potential impact on critical objectives or stakeholders

Assess the urgency of addressing each risk

Assign a priority ranking or score to each risk

Develop risk mitigation strategies for high-priority risks

Identify control measures or actions to reduce or eliminate the risks

Assign responsibilities and establish timelines for risk mitigation

Monitor the effectiveness of implemented controls

Establish a monitoring system to track the identified risks

Regularly review and update the risk assessment based on new information

Conduct periodic reviews of the effectiveness of risk controls

Analyze any emerging risks and adjust mitigation strategies as needed

Prepare a concise summary of the risk assessment findings

Communicate the identified risks and mitigation strategies to stakeholders

Provide clear and transparent information to facilitate decision-making

Ensure effective communication channels for ongoing risk management discussions

Maintain accurate and up-to-date records of the risk assessment process

Document the rationale behind risk decisions and actions taken

Keep a record of any changes made to the risk assessment over time

Ensure compliance with data protection and confidentiality requirements