Elements and Performance Criteria
- Establish the risk context
- Review organisational and technical environment and proposed business solution
- Identify scale, importance and complexity of project risks
- Establish acceptable and unacceptable levels of risk and consequences for the solution
- Identify the impact of risks against the business environment
- Determine and document proposed actions to insure against identified generic risks
- Conduct risk analysis
- Conduct a risk analysis to determine the likelihood of risks identified
- Rank risk factors according to the impact and likelihood of occurrence
- Develop contingency plans to mitigate identified risks
- Document risk analysis and contingencies in a risk management plan
- Implement risk management plans and undertake awareness training to inform stakeholders
- Monitor risks