Uncertainty when looking to the future
Clarity in future decisions
Uncertainty when looking at the past
Certainly of not suffering harm or loss
A baby being born
On the project
In the Project
On top of the project
Beside the project
Minimizes threats, maximizes opportunities and optimizes the achievement of project objectives.
Reduce the number of threats that materialize into problems and minimize the effects of those that do occur
Failing to manage risk will result in more problems, higher benefits and a higher chance of project success.
Results in more opportunities being captured proactively and turned into positive benefits for the project.
Major - cause total failure of seven or more parts of the project?
Moderate - will hold up or increase costs in one or more areas?
Minor - will cause inconvenience and completely set the project back financially or in time?
Avoid, Transfer, Accept, Mitigate
Accept, Mitigate, Evade, Transfer
Evade, Receive, Transfer, Avoid
Mitigate, Avoid, Evade, Transfer