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Question 8 - Risks

What are the main risks for this project? 

In this section, using your answers from Appendix 8, you need to summarise in order to address each sub question. 

Documents Required

Detailed Questions

(Use your working document)

Question 8 Example Answer

Appendix 8

(Use your working document)

Application Questions & Examples

FAQs
 

If you have any extra questions? Pop them in the chat box and we will respond as soon as possible.

Below we have provided some frequently asked questions, so please be sure to refer to these first.

Q: What risks out of the registry do we have to extract and include in the main file with 400 words?

A: We advise our client to insert a brief description/mitigation for each risk.

Q: I’ve added technical risks, but called them operational.

A: We suggest having both technical and operational risks. Technical risks prove the uncertainty of your project, which means your project is innovative.

Q: In the risk assessment table, what do we write in the risk owner column?

A: In the risk owner column you write the role of the person in charge of that specific risk, for example:

  • for commercial risk, you might write a commercial lead, but also project manager

  • for financial risk, you might write a financial lead

  • for technical risk, you might write a technical lead

Q: What do we write in the overall risk assessment, if our score is low?

A: We advise increasing some values a little bit to get a medium overall assessment risk. If the overall assessment is low, the assessors might think this project is not risky = innovative.

Q: How should Appendix-Q8: Risk Register look like?

A: Your Appendix-Q8: Risk Register should include:

  • Risk Category

  • Risk Description

  • Risk Impact, Likelihood, and Score

  • Risk rating

  • Risk Owner

  • Date Raised

  • Risk status

  • Mitigation