plan comes handy for the situation because it has the threshold definitions for
risks. Risk register, the most important artifact in risk management process contains the listof identified risks ranked and prioritized after qualitative and quantitative risk analysis.The risk register will tell whether the risk under consideration is a threat or an opportunity. Yes arisk can be an opportunity as well! As defined by PMI
project risk is an uncertain event or condition that, if it occurs, has a
effect on at least one project objective, suchas time, cost, scope, or quality.
The strategy for managing the risk under consideration will largelydepend on its being a threat or an opportunity.