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What is Risk Management?
The Process
Guiding Principles
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Step 1
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Step 5
Purpose
What to do and how to do it?
Expected results and outputs
Decision
Checklist
Step 6
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Decision

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

  • End if there are no feasible adaptation options.
  • Go Back if:
    • adequate data are not available for evaluating the cost effectiveness of potential risk controls
    • key stakeholders have not been consulted
    • assumptions and uncertainties associated with estimates are not acceptable to stakeholders
    • new risks will be introduced if the proposed control options are implemented.
  • Proceed to the Next Step if:
    • feasible adaptation or risk control options are defined and can be implemented
    • proposed actions are feasible from a cost and effectiveness perspective and are acceptable to stakeholders
    • residual risks are acceptable to stakeholders.
Eng - Go Back - Next Step/Take Action



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