Professional Documents
Culture Documents
10 Risk M
10 Risk M
MINIMISE BY :
IDENTIFICATION
ANALYSIS
RESPONSE
Ritchie.ward@btinternet.com
RISK
RISK AVOIDANCE
TECHNICAL UNCERTAINTY
ON RISK
No government should ever imagine that it can always adopt a safe course; rather it should regard all possible courses of action as risky. This is the way things are: whenever one tries to escape one danger one runs into another. Prudence consists in being able to assess the nature of a particular threat and in accepting the lesser evil. Machiavelli
Brief Q C T
OBJECTIVES
RBS "WHAT"
RISK LIST
Ritchie.ward@btinternet.com
RISK
RISK IDENTIFICATION
RBS
Work Package 1
Work Package 2
Work Package 3
High
M. L
H.
Med
H.
M.
Low
RISK HIERARCHY
Lower Impact
but
Higher Probability
PEOPLE AT WORK
Ritchie.ward@btinternet.com
RISK
EXECUTION PLANS
OBJECTIVES
To: From: Date: Garth Ward Joe Bloggs 18th March 1994
"HOW"
With reference to you memo of the 14th March, please find enclosed lots of work to do and I hope to see it on my desk asap
J. Bloggs
Risk Memos M
RBS "WHAT"
RISK LIST
RISK ANALYSIS
RECOGNISE
No Action
AVOIDABLE
CONTROLABLE
INSURABLE
High
RISK ANALYSIS
Insurance Strategy
Transfer
Severity y
Absorb
Low Low Probability High
Ritchie.ward@btinternet.com
RISK
High
Contingency Plan Immediate Action Reduce? Contingency Plan Transfer?
Impact
Deal With After Others Have Been Resolved. Periodic Review. Consider Action Manage?
High
RISK ANALYSIS
RECOGNISE
No Action
AVOIDABLE
CONTROLABLE
INSURABLE
RESIDUAL RISK
CONTINGENCIES
Ritchie.ward@btinternet.com
RISK
EXECUTION PLANS
OBJECTIVES
To: From: Date: Garth Ward Joe Bloggs 18th March 1994
"HOW"
With reference to you memo of the 14th March, please find enclosed lots of work to do and I hope to see it on my desk asap
J. Bloggs
Risk Memos M
RBS "WHAT"
WHERE
RISK LIST
RISK REVIEW
RBS
Work Package 1
Work Package 2
Work Package 3
M.
H.
Med X
H.
M.
Low X X
X X
X X
Brief Q C T
EXECUTION PLANS
OBJECTIVES
To: From: Date: Garth Ward Joe Bloggs 18th March 1994
"HOW"
With reference to you memo of the 14th March, please find enclosed lots of work to do and I hope to see it on my desk asap
J. Bloggs
Risk Memos M
RBS "WHAT"
WHERE
RISK REGISTER
HOW MUCH
RISK LIST
Ritchie.ward@btinternet.com
RISK
RISK RECORDING
Check List
First (data)
feedback loop Second feed back loop (Sensitivity & Probability Analysis)
Ritchie.ward@btinternet.com