Example Project Top N Risk Chart -Quality Assurance Document -2007-01-01 Page 1 of 2 Terms Definitions Terms Definitions Probability of Occuring Definition Impact if the risk materializes Definition Rank Location Location in the top N for this risk Risk Exposure Risk Exposure -product of probability and impact 1 Improbable (may occur only in exceptional circumstances). 1 Negligible/Insignificant impact Risk Statement Potential problem (condition and consequence) Action to Take Action planned to handle the risk 2 Slight possibility/remote possibility/unlikely (could occur at some time) 2 Marginal/Minor impact Probability Probability/likelihood that the risk will occur Who Person responsible for the action 3 Moderate possibility (might occur at some time). 3 Significant/Moderate impact Impact Impact on the project if the risk materialize Date Date by which to complete 4 Likely (will probably occur in most circumstances). 4 Critical/Major impact 5 High probability/almost certain (is expected to occur in most circumstances). 5 Catastrophic impact. Rank Current Rank Previous Category Risk Statement Condition (Summary) Prob of Occurr ing Impact of the Risk Prob * Impact Risk Exposure Current Prob * Impact Risk Exposure Previous Impact of the Risk Who is responsible? Completion Date Strategy (Accept, Avoid /Lessen, Transfer, Monitor) Example Project Top N Risk Chart -Quality Assurance Document -2007-01-01 Page 2 of 2 Rank Current Rank Previous Category Risk Statement Condition (Summary) Prob of Occurr ing Impact of the Risk Prob * Impact Risk Exposure Current Prob * Impact Risk Exposure Previous Impact of the Risk Who is responsible? Completion Date Strategy (Accept, Avoid /Lessen, Transfer, Monitor) * Contingency Plan needed. A Risk that is no longer a threat (activity completed successfully) is indicated by a grayed out area (row).