Description

Roles

Attributes

Steps

1. Reduce Probability:
   Propose feasible means to reduce the probability of the adverse event.
   
   Assess the cost of development and ownership of each proposal against the risk exposure. Estimate the probability and potential impact.
   
   Decide if there is a cost-effective method or combination of means available to reduce the probability.

2. Reduce Impact:
   If the risk exposure is still too high to accept, propose feasible approaches to reduce the impact of the adverse event.
   
   Assess the cost of development and cost of ownership of each proposal against the remaining risk exposure.
   
   Decide if there is a cost-effective method or combination of means available to reduce the probability.

3. Make Contingency Plans:
   If the remaining risk exposure is still too high to accept, examine, all assumptions and quality of service requirements, especially those that involve deployment environment, availability, and accessibility.

   
   If no changes can be made to the original context, develop action plans for users and support staff to handle adverse events in the best and most cost effective way.

4. Apply Decisions:
   Implement the selected approach to reduce the probability of occurrence and impact.
   
   Close the risk work item.

Inputs and Outputs

WorkProduct	Input	Output	Allowable States
Risk			(none)