Risk Evaluation and Assessment
Risk evaluation is concerned with assessing probability and impact of individual risks, taking into account any interdependencies or other factors outside the immediate scope under investigation:
Some risks, such as financial risk, can be evaluated in numerical terms.
Others, such as adverse publicity, can only be evaluated in subjective ways.
There is a need for some framework for categorising risks, for example, high, medium and low.
When considering a risk’s probability, another aspect is when the risk might occur.
Some risks will be predicted to be further away in time than others and so attention can be focused on the more immediate ones.
This prediction is called the risk’s proximity. The proximity of each risk should be included in the Risk Log.
|© RuleWorks - All Rights Reserved - Policy - - Sitemap|