Plan a Risk-Management Strategy. A few potential risk sources include operational, financial, natural, and reputational. You can use the risk-assessment matrix to quantify risks.
IMPACT X
PROBABILITY = ACTUAL RISK
Look
at the chart below. On a scale of 1-5
with 1 = Low Risk & 5 = High Risk, anything over a 12 is considered a high
risk. High risk items should be considered
and dealt with quickly or it could negatively impact your project and risk
project failure.
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Next in the series is Risk-Management Strategies.
Be sure to check back next week!
Be sure to check back next week!
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