Risk Assessment Tool: Simple

This is an easy-to-use tool to identify and quantify risks a company may face.

It is easy to focus on the most current risk that has occurred, neglecting potential risks that could occur and have major impacts on the company.  “Getting ahead” of those potential risks and implementing plans to avoid or address them can minimize or avoid them, which can only occur if a proper assessment of their likelihood and severity is understood beforehand.  This version of the Excel™ based tool provides a means to capture and rate the likelihood and severity of identified potential risks.  Multiplying the two factors together provides a rank-order list of the impacts.  Sample data is shown.