A Risk Management Log

A Risk Management Log will be created and refreshed as required and will be put away electronically in the task library situated at .

2.3        RISK ANALYSIS

All dangers distinguished will be surveyed to recognize the scope of conceivable undertaking results. Capability will be utilized to figure out which dangers are the best dangers to seek after and react to and which dangers can be overlooked.

2.3.1        Qualitative Risk Analysis

The likelihood and effect of event for each distinguished hazard will be surveyed by the venture director, with contribution from the task group utilizing the accompanying methodology:

Likelihood

•        High – Greater than <70%> likelihood of event

•        Medium – Between <30%> and <70%> likelihood of event

•        Low – Below <30%> likelihood of event

Effect

Impact        H

M

L

L        M        H

Likelihood

•        High – Risk that can possibly significantly affect venture cost, venture timetable or execution

•        Medium – Risk that can possibly marginally affect venture cost, venture calendar or execution

•        Low – Risk that has generally little effect on cost, timetable or execution

Dangers that fall inside the RED and YELLOW zones will have chance reaction arranging which may incorporate both a hazard moderation and a hazard alternate course of action.

2.3.2        Quantitative Risk Analysis

Examination of hazard occasions that have been organized utilizing the subjective hazard investigation process and their effect on task exercises will be evaluated, a numerical rating connected to each hazard dependent on this investigation, and afterward recorded in this segment of the hazard administration plan.

2.4        RISK RESPONSE PLANNING

Each real hazard (those falling in the Red and Yellow zones) will be alloted to an undertaking colleague for observing purposes to guarantee that the hazard won't "escape everyone's notice".

For each real hazard, one of the accompanying methodologies will be chosen to address it:

•        Avoid – kill the danger by disposing of the reason

•        Mitigate – Identify approaches to decrease the likelihood or the effect of the hazard

•        Accept – Nothing will be finished