EOSC-hub:Risk Management
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EOSC-hub project: | Main page | Project Office | Proposal | H2020 regulations | VA-TNA FAQ | Risk management |
under construction
Risk analysis
During the analysis the risk level is evaluated by means of interviews to the Work Package leaders and other relevant actors performed by the Quality and Risk manager. Risk rating (level) is calculated according to likelihood and impact matrix.
Risk likelihood descriptors
The following table contains the risk likelihood descriptors:
Rating |
Description |
Likelihood of occurrence |
1 | Unlikely | Not expected, but there's a slight possibility it may occur at some time. |
2 |
Possible | The event may occur at some time. |
3 |
Likely | There is a strong possibility the event will occur |
4 |
Almost Certain | Very likely. The event is expected to occur in most circumstances |
Risk impact descriptors
The following table contains the risk likelihood descriptors:
Rating |
Description |
Project Objectives impact |
1 | Minor |
|
2 |
Moderate |
|
3 |
Major |
|
4 |
Catastrophic |
|
Risk likelihood and impact matrix (risk level)
The risk likelihood and impact matrix is a grid for mapping likelihood of each risk occurrence and its impact to the project objectives in case the risk occurs. Risks are prioritized according to their potential consequences on the project objectives.
Likelihood | Impact | ||||
Minor | Moderate | Major | Catastrophic | ||
Unlikely | Low | Low | Medium | Medium | |
Possible | Low | Medium | High | High | |
Likely | Medium | High | High | Extreme | |
Almost Certain | Medium | High | Extreme | Extreme |