1. Background to risk analysis

Risk analysis is part of the risk management process. Based on a list of identified risks, the aim is to assess the criticality of each risk according to various pre-established criteria (probability of occurrence, impact, detectability, etc.).

This analysis should answer the following questions:

• What is the probability of the risk occurring?

• What is the impact of the risk?

• When and how can it be detected?

• How much time do we have to deal with the risk?

• Are there any factors that could mitigate the impact of the risk or reduce the probability of its occurrence?

This analysis will enable us to prioritize risks and define which ones need to be dealt...