Risk Mitigation

Risk management occurs regularly during the Event Project Stage of the event. For the risks above the risk threshold, mitigation plans need to be put in place.

Common mitigations strategies fall into the following categories:

• Avoidance

  • The risk is avoided entirely by taking a different course of action

• Acceptance

  • The risk is accepted and contingency plans are made in case it happens

• Transference

  • We hand the risk over to someone else, e.g. via insurance

• Limitation

  • Plans are in place to limit the likelihood or impacts of the risk identified

The example risk template contains risk mitigation plans for risks above the risk threshold in the example event.