Identify key project hazards
Hazards, in this context, are project conditions you wish to avoid, such as an implementation that does not meet its QoS
requirements. This step identifies likely project hazards. |
Determine likelihood of key project hazards
The likelihood of the hazard is multiplied by its severity to compute the project risk. Hazards with likelihoods above a
certain threshold should be explicitly mitigated by one or more risk mitigation activities. |
Compute key project risks
Risk = likelihood x severity, for each project hazard. |
Rank project risks
Hazards should be ranked by risk so that the most critical ones may be addressed. |
Specify risk mitigation activities for key project risks
A risk mitigation activity is a work task whose specific goal is to clarify a project risk. |
Capture the risk management aspects
Capture all of the project's risk-related details. |
|