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The Process

Key Activities

The key activities in the Risk Management Process are:
  • identifying the risks
  • estimating their consequences
  • evaluating and ranking the risks
  • selecting options to lower those risks to acceptable levels.

6 Steps

There are six simple steps in the process:

Figure 1: Steps in the Risk Management Process

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


The framework in this Guide is based on the Canadian national standard, entitled "Risk Management: Guidelines for Decision-makers" (CAN/CSA-Q850-01).



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