Risk Mitigation Steps

Risk mitigation allows you to reduce or eliminate the risks associated with a project.

Before making any changes to a project, you may want to assess if mitigation will reduce project risk and if the improvement will be worth the investment.

For example, if you spend $1,000,000 to move a risk from Very High to High but it only saves you a few days, you may decide that it is not worth it. On the other hand, if you can spend $10,000 and save three weeks, it may be a worthwhile investment.

The Risk Register mitigation steps allow you to set up and run risk analysis that compares different mitigation scenarios to see the impact on the project.

Example of a Risk Exposure Comparison Chart with Multiple Risk Mitigation Step Scenarios

• The percentages indicate the probability of the activity finishing by the date you see in the x-axis. For example, in the green mitigation scenario above, until 4/24, the activity has a 40% probability of finishing. After that date, the probability starts to improve.
• You can relabel the mitigation steps by editing the Name column.
• Deselect the checkbox in the Visible column to remove the step from the chart.
• Click the X in the Remove column on the right side of the grid to remove the step data from the chart. If you want to re-add it, you will need to run Risk Analysis again with the same mitigation steps selected.