Risk Management Software

Risk Management Software: Action Identification

After deciding about priorities the risk manager will identify candidate actions for the uncertainties. Candidate Actions are actions that will mitigate probability and/or impact.
Candidate Actions are defined by their description and their cost.

Qualitative Action Costs

The action costs will be displayed in a simialr way to the uncertainty impact on the overview table.
qualitative action costs

Quantitative Action Costs

Quantitative action costs are defined numerically by using the four distribution types we have seen in context of impact assessment (Single Value, Uniform or Rectangular Distribution, Triangular Distribution, and Normal or Gauss Distribution):
quantitative action costs