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What is Risk Management?
The Process
Guiding Principles
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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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Decision

Select one of the three decision options - End, Go Back or Next Step/Take Action:

  • End the process if:
    • stakeholders agree that all the risks are acceptable
    • the risks are completely unacceptable, cannot be reasonably dealt with, and all stakeholders agree that the process should be ended.
  • Go Back if:
    • there is insufficient data or information to make a decision
    • the principal people or groups that may be affected or involved were not adequately consulted;
      or not all key stakeholders agree with the conclusions
    • there is new information that might materially change the frequency or consequence estimates.
  • Proceed to the Next Step if stakeholders agree that the risks are unacceptable and that risk control measures will have to be implemented.
Eng - Go Back - Next Step/Take Action



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