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Risk probability
Risk impact
Probability levelDescriptionValueImpact valueImpact descriptionValue
Very lowIn past projects experience you have never seen this happen, but it probably could0.05Very LowSmall monetary loss or a few days of delay1
LowIt has happened on occasion0.25Low

Manageable monetary loss or a few weeks of delay

2
ModerateSometimes it happens and sometimes not

0.5

ModerateHeavy monetary loss or significant delay that doesn't endanger project success in general3
HighMost of the time this event happens0.75HighA loss or a delay that can endanger overall project success4
Very highIt has happened on almost every project and you think it always will but there is a chance of escape0.95Very highProject failure and possible additional losses5


Risk

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Exposure                                                                                                                                              

Risk exposure value is calculated by the given formula:

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Probability

Risk exposureColor

Risk priority


0.050.250.50.750.950 - 0.75GreenLow risk

I

M

P

A

C

T

10.050.250.50.750.950.95 – 2.25AmberModerate risk
20.10.0.511.51.92.5 – 4.75RedCritical risk
30.150.751.52.252.85

Prioritization of risks must be done based on Risk Exposure value as follows:

  • If Risk Exposure value is Green (i.e. for Low Risks) Mitigation Plan or Contingency Plan are not obligatory.
  • If Risk Exposure value is Amber (i.e. for Moderate Risks) Mitigation Plan is required, Contingency Plan could be developed but is not obligatory.
  • If Risk Exposure Value is Red (i.e. for Critical Risks) Both Mitigation and Contingency Plans are required.
40.21233.8
50.251.252.53.754.75

Image Added


Risk category

Risk sourceRisk Description/SummaryRisk ProbabilityRisk ImpactRisk ExposureRisk Exposure

Risk status

(open/treated)

Risk Treatment Strategy

(avoidance/

reduction)

Last Update dateMitigation Plan
(Treatment strategy description)
AssigneeDate of Risk OccurrenceIssue Status Contingency PlanContingency Plan Assignee
































































































































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