The template should include a unique risk number, a risk owner, potential costs (in dollars and other terms), a probability of occurrence (a low-medium-high scale will do at this point), any ...

Setting up the Project Risk Score Matrix The scoring can be based on multiple levels and doesn’t have to be measured to 5 levels – 3 may suffice for most organizations.

A risk management plan is a document prepared by a project manager to identify, document, and prioritize all possible risks. It also spells out how to deal with each risk if it occurs.

Those events with the highest risk factor are the ones your disaster recovery plan should primarily aim to address. Another way to capture and display risk information is with a risk matrix.

Risk assessment enables corporations, governments, and investors to assess the probability that an adverse event might negatively impact a business, economy, project, or investment.