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What is Risk Management?
The Process
Guiding Principles
Worksheets
Step 1
Step 2
Step 3
Step 4
Purpose
What to do and how to do it?
Expected results and outputs
Decision
Checklist
Step 5
Step 6
Glossary
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In this step, the project team compares and ranks each risk. They do this by:

  • Evaluating the risks in terms of overall frequency or probability and consequences using the results from Step 3. Also by considering the issues and concerns of the principal people or groups that may be affected or involved.
  • Identifying unacceptable risks and ranking them for risk reduction or control measures.

See Volume 2: Workbook & Case Studies (below) for examples of how to complete Step 4.



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