Download: 68. Exemplary Qualitative Risk Assessment
Created: 19 April 2020
Exemplary Qualitative Risk Assessment (QualRA)
Control your risks before they control you. Everywhere – and at all times.
But how do you assess your risks?
Always start with a qualitative assessment. Especially if you plan to go for a quantitative analysis (later).
Planning your controls (risk mitigation) is the real goal and most important step of any qualitative risk assessment:
1. Work with a moderated, interdisciplinary & cross-hierarchical team of all major stakeholders.
2. Plan your risk controls by your risk strategy.
3. Prioritize risk avoidance over mitigation as far as possible.
4. Insurance might be a (legal) requirement and making sense. However, insurance is not a risk mitigation measure – only a (very last) safety net.
5. Complete your planning proactively.
6. Assign your planned controls to competent risk owners.
7. Give your risk owners the required authority and resources to act as planned.
8. Document and update all results by using one of our templates
(e.g. this Download Doc. No. 68).
9. Monitor and control your identified versus residual risks and the status of your controls periodically.
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