Risk Management - A 6 Step Process

RISKMANAGEMENTA 6 STEP PROCESS

What is risk management?

But first...

Risk managementis...

"the forecasting and evaluation of risks together

with the identification of procedures to avoid or

minimize their impact."

Or...

Risk management is predicting what might have

an impact on your project, and then making a

strategy to deal with it!

The Risk Management6 StepProcess

1

2 3

4

5 6

1 Identify

Identifypotentialrisks toyour

project

2 Analyze & Prioritize

Analyze &prioritizethe risks inorder of

importance

3 Plan & Schedule

Formulatestrategies,plans andactions todeal withpotentialrisks

4 Track & Report

Monitor thestatus ofpotentialrisks andreport thisstatus toothers

5 Control

Implementyour riskstrategies,plans andactions asneeded

6 Learn

Learn fromthe

process,and repeat!

Learn more about risk management with the BrightWorktraining videos!

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