Q
QAMTY
Hi all
To all of you who have had experience in managing risks, I´m facing two
issues, I hope you can help me.
1 How to close out the risk?
If at certain time risk was mitigated? or when is under control?
when to stop the follow-up?
2 Exactly what apply for every option in 6.1 ?, I wrote down what I think, please suggest.
NOTE 1 Options to address risks can include avoiding risk, taking risk in order to pursue an opportunity,
eliminating the risk source, changing the likelihood or consequences, sharing the risk, or retaining risk by
informed decision.
Avoiding Risk->It is clear, not to take the risk.
Taking risk in order to pursue an opportunity-> to accept the risk maybe with some mitigation or if risk is very low, ok it is accepted with no mitigation ,this looking some benefits.
Eliminating the risk source->It may be the same as avoiding?some way or other, I don´t want to take the risk.
Changing the likelihood or consequences->with some mitigation , I lower the risk value
Sharing the risk->to take some part of the risk and transferring the other part, maybe to an insurance company, or a supplier?
Retaining the risk by informed decisions-> would it be when analyzing an old risk? but Informed decision?
Please help to clarify
Thanks
To all of you who have had experience in managing risks, I´m facing two
issues, I hope you can help me.
1 How to close out the risk?
If at certain time risk was mitigated? or when is under control?
when to stop the follow-up?
2 Exactly what apply for every option in 6.1 ?, I wrote down what I think, please suggest.
NOTE 1 Options to address risks can include avoiding risk, taking risk in order to pursue an opportunity,
eliminating the risk source, changing the likelihood or consequences, sharing the risk, or retaining risk by
informed decision.
Avoiding Risk->It is clear, not to take the risk.
Taking risk in order to pursue an opportunity-> to accept the risk maybe with some mitigation or if risk is very low, ok it is accepted with no mitigation ,this looking some benefits.
Eliminating the risk source->It may be the same as avoiding?some way or other, I don´t want to take the risk.
Changing the likelihood or consequences->with some mitigation , I lower the risk value
Sharing the risk->to take some part of the risk and transferring the other part, maybe to an insurance company, or a supplier?
Retaining the risk by informed decisions-> would it be when analyzing an old risk? but Informed decision?
Please help to clarify
Thanks