Identify Risks - Identify and describe risks that threaten achievement of priorities, the delivery of services as planned and meeting statutory duties
Assess the inherent risk - Assess the risk against the descriptions of likelihood and impact, arriving at a score
Assign ownership - Assign ownership according to risk score
Risk Mitigation - Assess how the risk will be mitigated to reduce likelihood and impact
Assess the residual risk after application of risk mitigations - After the application of risk mitigation measures assess the risk against the descriptions of likelihood and impact, arriving at a score. Decide if the risk is now at an acceptable level?
Record and review - Record the risk in an appropriate risk register and keep under periodic review
