How did you determine whether an issue was low, medium or high risk?
Answer (1)
To determine whether an issue is low, medium, or high risk, you usually consider two main factors: the likelihood of it happening and the potential impact if it does happen.Low risk – The issue is unlikely to happen, or if it does, it has minimal impact. Example: A minor typo in a report.Medium risk – The issue is somewhat likely to happen and can cause moderate problems or delays. Example: A temporary shortage of materials for a project.High risk – The issue is very likely to happen or would have serious consequences if it occurs. Example: A major equipment failure or natural disaster affecting operations.By analyzing these factors, you can prioritize which issues need immediate attention and which can be monitored or handled later.
