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Risk management steps
- 1. Identify the risk
- 2. Analyze the risk
- 3. Prioritize the risk
- 4. Treat the risk
- 5. Monitor the risk
www.lucidchart.com/blog/risk-management-process- People also ask
Learn how to identify, analyze, prioritize, treat, and monitor risks in a project with this risk management framework. Lucidchart provides tools and tips to help you create a risk breakdown structure, a project risk log, and a risk register. See more
Now prioritization begins. Rank each risk by factoring in both its likelihood of happening and its potential effect on the project. This step gives you a holistic view of the project at hand and pinpoints where the team's focus should lie. Most importantly, it’ll help … See more
Once the worst risks come to light, dispatch your treatment plan. While you can’t anticipate every risk, the previous steps of your risk management process should have you set … See more
Clear communication among your team and stakeholders is essential when it comes to ongoing monitoring of potential threats. Send regular … See more
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