Evaluating risks and opportunities
As in standard PRM, for each risk
- Assess probability, impact and time proximity
- Sort risks based on their criterion value
- I.e. probability x impact
- Establish risk threshold value
- To separate "further analysis" from "watch and wait"
- Assess selected risks qualitatively
- If the risk event occurs, can it be converted into an opportunity?
- If so, how?
- Are there associated opportunities anyway?