Risk is stated Here¶
Impact¶
Narrative explaining what bad will happen if this risk happens.
Severity¶
Hoe bad will it be? Severity of the risk on this scale: negligible, marginal, critical, catastrophic.
Likelihood¶
How possible is it that this happens? Likelihood of the risk on this scale: rare, unlikely, possible, likely, certain.
Response¶
Narrative explanation of how this risk will be addressed. Will be a combination of how the risk will be managed. Some common approaches are: mitigation, monitoring, prepared a response, contracting to another party.