Addressing our risks


Once we’ve assessed the various risks to our business, we can decide what we want to do about them, prioritising our actions based on the risk rating. Clearly we’ll want to concentrate first on those significant risks that fall in the top right hand corner of our risk matrix. We may also choose to address some of the less significant risks, particularly if it’s easy or inexpensive to do so. As we move towards the bottom left hand corner there may well be risks that we choose to accept. Another way of looking at it is illustrated below:


High Must mitigate


Should mitigate


Might mitigate Low No action Low IMPACT


So that we can decide what actions to take, we first need to consider some of the possible mitigation measures, otherwise known as countermeasures.


CHAPTER 4 57 High


LIKELIHOOD


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