Risk Assessment

Risk assessment is the stage in our risk management process where the importance of each risk is evaluated. This evaluation will also serve as the guideline for determining the risk strategy. Here we use the list of identified risks that were made as inputs. The list of risks will constantly change as well, since the time of the risk and the progress toward completion of the project will affect the risks that will be on the list of identified risks.

It is critical that the risks be evaluated, since, because of risk tolerance of the stakeholders, some risks will be ignored while others will have rather elaborate monitoring and mitigation plans associated with them. The evaluation or assessment process is necessary to itemize these ...

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