Context of risk analysis

Risk analysis is part of the risk management process. Its purpose is to use the list of identified risks to assess the criticality of each risk based on various pre-established criteria (probability of occurrence, impact, detectability, etc.).

This analysis should enable us to answer the following questions:

• What is the probability that the risk will occur?

• What is the impact of the risk?

• When and how can it be detected?

• Are there any factors that could mitigate the impact of the risk or reduce the likelihood of the risk occurring?

This analysis will enable risks to be prioritized and determine which risks need to be addressed and in what order.

The benefits...