Question

Define 8 steps to assist with risk mitigation.

Answer 1

Risk can be mitgatmit through the following 8 steps

• Identify the risk :- In this particular step risk can be identified through walk through audit and proper description of the risk identified.
• Analyse the risk : in this step likelihood of risk can be properly explained ,nature of risk and potential threat of it.
• Evaluation of risk : Rank the risk based on the severity chance of occurant etc helps in persparation of mitigation plans.
• Treat the risk :-This is critical in preparing risk response planning. Assess the higher rank risk and develop plan to lower down the chance of happening.
• Risk monitoring : visualising risk with key performance indicators and design the risk mitigation activities based on that.
• Controlling the risk :- Risk can be controlled through effective monitoring and steps to follow through systematic approaches.
• Risk management through colloborative actions and support
• Sustainability actions plans for risk mitigation: This helps in creating a contineoco improvement actions plans which built case studies for previous risk and helps in controlling and monitoring the future risk possibilities.