1. Scan the project horizon for risky areas of activity
4. And ask: What happens if it does go wrong?
5. Then ask: How much does it matter?
2. Ask: What can go wrong?
3. For each event, ask: How likely is it to go wrong?
6. If so, what are our options to do something about it?
- Multiply Scale #3 by Scale #4 to get a relative value
7. Keep records of risk events for future reference
- To prevent it happening
- To reduce its likelihood
- And to mitigate the consequences