Risk Assessment
Risk Items
Potential
Impact
(H/M/
L)
Probability
of
Occurrence
Difficulty of
Timely
Detection
(H/M/
L)
(H/M/L)
Overall
Risk
(H/M/
L)
Considerations and Good Practice

Strategic fit – how well does this new idea fit with University strategy?

Core competencies – is the project more risky because the new idea is outside
our current core competencies, or less risky because it’s in our current realm?

When brainstorming items for this table, assemble a broader cross-functional
group than just the project team. Include people from other departments or
Schools, for example, Finance, HR, Marketing, Procurement, and other
specialisms that will cover the full experience range of a projects planning and
implementation. Look for the “old salts” and the front-line people with a lot of
experience. They have a wealth of practical knowledge and experience on current
and previous product lines, and can make initial high-level assessments easily

Don’t worry about a high degree of precision at this point; keep the issues and
the scoring at a high level since there is not much detail available this early in the
project.

The scoring will be somewhat subjective – based upon the combined judgment of
the project team and key stakeholders.

Risks that seem large enough to threaten the ultimate viability of the project
should lead to serious discussion about whether a project should be undertaken,
at least with the current definition. Would a pilot be a way of testing without
serious losses if the risks prevent success?
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