Risk Mitigation Checklist

1. Risk Mitigation Checklist Risk Mitigation ChecklistPurposeThis checklist was designed to help mitigate risks for a particular project/program.Done Risk Mitigation Checklist Areas of Concern Senior Management commitment was obtained for project All Project/Program Stakeholders have been identified Project Plans are always defined and signed off on by Sponsors Business Process & Functions have been adequately defined Critical Processes & Functions have been identified Risk Assessment criteria have been identified and understood An anonymous risk reporting channel has been set up & used Fishbone Diagrams are used to analyze problems & root causes

2. Risks have been adequately defined and categorizedImpact of risks have been assessed and quantifiedProbability of risks have been estimated based on availableinfoRisks have been evaluated and prioritized based on severityOptions to mitigate risks have been identified and quantifiedRisk mitigation plans have been completed and communicatedRisks have been clearly communicated to key stakeholdersRisk Management frameworks have been evaluated & adoptedProcesses are in place for Issue Management & ResolutionControls have been put in place to mitigate process-based risksScenario planning has been conducted to ensure businesscontinuityContingency plans are built to address risks and reduce lossesSenior Management has signed off on permitted risks Risks have been adequately defined and categorizedImpact of risks have been assessed and quantifiedProbability of risks have been estimated based on availableinfoRisks have been evaluated and prioritized based on severityOptions to mitigate risks have been identified and quantifiedRisk mitigation plans have been completed and communicatedRisks have been clearly communicated to key stakeholdersRisk Management frameworks have been evaluated & adoptedProcesses are in place for Issue Management & ResolutionControls have been put in place to mitigate process-based risksScenario planning has been conducted to ensure businesscontinuityContingency plans are built to address risks and reduce lossesSenior Management has signed off on permitted risks

3. Budget for risk mitigation activities has been approvedRecommendations from audits are being followed implicitlyResponsibility & accountability for risks have been assignedRisk management has been outsourced to third-party firmProjects deliverables are defined and checkpoints have beenidentified to ensure that projects stay on-track withtime/budgetPost Project Evaluations conducted to learn lessons fromexperience Budget for risk mitigation activities has been approvedRecommendations from audits are being followed implicitlyResponsibility & accountability for risks have been assignedRisk management has been outsourced to third-party firmProjects deliverables are defined and checkpoints have beenidentified to ensure that projects stay on-track withtime/budgetPost Project Evaluations conducted to learn lessons fromexperience