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  • Risk Prioritization - Likelihood and Impact

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    This document discusses risk prioritization based on likelihood and impact. It defines 5 levels of likelihood from very high to very low, and 5 corresponding levels of impact from very high to very low. Very high likelihood means a risk event is almost certain to occur, while very high impact threatens the success of the project. Low likelihood means a risk may occur occasionally, and low impact would have minor consequences.

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    Risk Management

    Original Title

    Framework

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    This document discusses risk prioritization based on likelihood and impact. It defines 5 levels of likelihood from very high to very low, and 5 corresponding levels of impact from very high to very low. Very high likelihood means a risk event is almost certain to occur, while very high impact threatens the success of the project. Low likelihood means a risk may occur occasionally, and low impact would have minor consequences.

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    5 views3 pages

    Risk Prioritization - Likelihood and Impact

    Uploaded by

    wilbert
    This document discusses risk prioritization based on likelihood and impact. It defines 5 levels of likelihood from very high to very low, and 5 corresponding levels of impact from very high to very low. Very high likelihood means a risk event is almost certain to occur, while very high impact threatens the success of the project. Low likelihood means a risk may occur occasionally, and low impact would have minor consequences.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 3

    Risk Prioritization – likelihood and impact

    Risk Impact:
    Likelihood ofLevel
    a riskof damage
    event that can occur when a risk event occurs
    occurring
    • Very High: Is almost certain to occur
    • Very High: Threatens the success of the project

    •• High: Substantial
    High: Is impact on time, cost or quality
    likely to occur
    • Medium: Notable impact on time, cost or quality
    • Medium: Is as likely as not to occur
    • Low: Minor impact on time, cost or quality

    •• Very
    Low: Low: Negligible
    May occur impact
    occasionally

    • Very Low: Unlikely to occur

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