project management glossary

risk assessment

 The process of identifying potential risks, quantifying their likelihood of occurrence and assessing their likely impact on the project.

 Review, examination and judgment whether or not the identified risks are acceptable in the proposed actions.

risk assessment tables

 Tables that may be used to allocate "scores" to risks, to help in prioritizing them.

risk assumption

 Risk assumption is an acknowledgment of the existence of a particular risk situation and a conscious decision to accept the associated level of risk, without engaging in any special efforts to control it.

risk avoidance

 The process of planning activities so as to avoid identified risks by using an alternative method.

 Planning activities to avoid risks that have been identified.