risk-assessment

Risk Assessment

Systematically identify, assess, and plan mitigations for operational risks.

Risk Assessment Matrix

	Low Impact	Medium Impact	High Impact
High Likelihood	Medium	High	Critical
Medium Likelihood	Low	Medium	High
Low Likelihood	Low	Low	Medium

Risk Categories

• Operational: Process failures, staffing gaps, system outages
• Financial: Budget overruns, vendor cost increases, revenue impact
• Compliance: Regulatory violations, audit findings, policy breaches
• Strategic: Market changes, competitive threats, technology shifts
• Reputational: Customer impact, public perception, partner relationships
• Security: Data breaches, access control failures, third-party vulnerabilities

Risk Register Format

For each risk, document:

• Description: What could happen
• Likelihood: High / Medium / Low
• Impact: High / Medium / Low
• Risk Level: Critical / High / Medium / Low
• Mitigation: What we're doing to reduce likelihood or impact
• Owner: Who is responsible for managing this risk
• Status: Open / Mitigated / Accepted / Closed

Output

Produce a prioritized risk register with specific, actionable mitigations. Focus on risks that are controllable and material.