Risk is about uncertainty
A risk is an uncertain event or condition that may affect objectives. Once it happens, the situation becomes an issue. Keeping that distinction clear helps the team decide whether it should prepare, respond or resolve.
01Identify
02Analyze
03Plan response
04Monitor
05Trigger
06Issue response
07Learn
Useful risk responses
| Question | Practical answer |
|---|---|
| Threat — avoid | Change the plan to remove the threat. |
| Threat — mitigate | Reduce probability or impact. |
| Threat — transfer | Shift ownership of the impact through an appropriate arrangement. |
| Opportunity — exploit | Act to make the opportunity happen. |
| Accept | Acknowledge the uncertainty and act if it occurs, with appropriate monitoring or contingency. |
Assumptions deserve attention
An assumption that becomes false can create a new risk or issue. Review important assumptions as the project progresses.
Change control
Change is normal. The professional response is not “never change” but “make the impact visible before committing.” Consider scope, schedule, cost, resources, quality, risk, dependencies and benefits.
RAID thinking
A RAID log can bring Risks, Assumptions, Issues and Dependencies into one working view. The useful fields are owner, date, impact, response and current status.