Optimize risk management with our Qualitative Risk Assessment Template for identifying, analyzing, mitigating threats, and maintaining highly effective strategies.
1
Identify assets and activities to be assessed
2
Identify sources of risk, including possible threats and vulnerabilities
3
Assess the severity of potential risks
4
Assess the likelihood of each risk
5
Calculate the risk level
6
Approval: Risk Level Calculation
7
Develop risk mitigation strategies
8
Identify resources needed for risk mitigation
9
Assign responsibility for implementing risk mitigation strategies
10
Develop a timeline for implementing risk mitigation strategies
11
Prepare a qualitative risk assessment report
12
Approval: Qualitative Risk Assessment Report
13
Communicate the results to stakeholders
14
Implement risk mitigation strategies
15
Monitor the effectiveness of risk mitigation strategies
16
Update the risk assessment as necessary
17
Document any changes or updates to the risk assessment
18
Approval: Updated Risk Assessment
19
Review results and make necessary adjustments
20
Approval: Risk Assessment Adjustment
Identify assets and activities to be assessed
This task involves identifying the assets and activities that need to be assessed for potential risks. It will help to understand the scope of the risk assessment and determine which aspects of the process need to be analyzed. Consider what assets or activities could be vulnerable to threats or have the potential to create risks.
1
Data breach
2
Equipment failure
3
Cyber attack
4
Human error
5
Natural disaster
1
Financial loss
2
Operational disruption
3
Reputation damage
4
Legal consequences
5
Safety risks
Identify sources of risk, including possible threats and vulnerabilities
In this task, you need to identify the sources of risk that could lead to potential threats and vulnerabilities. By understanding the different sources of risk, you can better assess the likelihood and severity of each risk. Consider internal and external factors that could pose a risk to the assets and activities identified in the previous task.
1
Human factors
2
Technological factors
3
Natural factors
4
Economic factors
5
Regulatory factors
Assess the severity of potential risks
Assess the likelihood of each risk
Calculate the risk level
Approval: Risk Level Calculation
Will be submitted for approval:
Calculate the risk level
Will be submitted
Develop risk mitigation strategies
Identify resources needed for risk mitigation
Assign responsibility for implementing risk mitigation strategies
Develop a timeline for implementing risk mitigation strategies
Prepare a qualitative risk assessment report
Approval: Qualitative Risk Assessment Report
Will be submitted for approval:
Prepare a qualitative risk assessment report
Will be submitted
Communicate the results to stakeholders
Implement risk mitigation strategies
Monitor the effectiveness of risk mitigation strategies
Update the risk assessment as necessary
Document any changes or updates to the risk assessment
Approval: Updated Risk Assessment
Will be submitted for approval:
Document any changes or updates to the risk assessment
