Use Risk Mitigation to Reduce or Eliminate Risks

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.

Compare Scenarios

You can use the Risk Register mitigation steps to set up and run risk analysis that compares different mitigation scenarios to see the impact on the project. This displays in a Risk Exposure Comparison chart.

Compare Mitigation Steps

You can also use Risk Register Mitigation Analysis to run risk analysis with mitigation to compare mitigation steps. This displays in a Mitigation Steps chart.

Related topics:

  • Comparing Different Risk Mitigation Scenarios
    Use the Risk Register mitigation steps to set up and run risk analysis that compares different mitigation scenarios to see the impact on the project.
  • Comparing Risk Mitigation Steps
    After you have created risk mitigation steps, use the Risk Register Mitigation Analysis to run risk analysis with mitigation for the selected risk event to compare mitigation steps.
Parent Topic: Risk Register (Risk Events)
Related Concepts
Related Procedures