Risk Analysis

Specifically, risk is a future event (or series of events) with a probability of occurrence and the potential for (a) loss or (b) impact on objectives that can be positive or negative. A Risk Analysis Should Address:

• What could possibly go wrong?
• What is the likelihood of it happening?
• How will it affect the project?
• What can be done about it?

WinFedBiz employs a 5-step model, as follows:

1. Step 1: Identifying Risk
2. Step 2: Qualitative Risk Analysis
3. Step 3: Quantitative risk assessment
4. Step 4: Risk Response Planning
5. Step 5: Risk Monitoring and Control