Risk Analysis

July 26, 2016


Risks are unavoidable – all projects inherently contain both internal and external risks. However, with proper identification and management, risks can be prepared for, minimized, or mitigated. The purpose of a risk analysis is to identify the internal and external risks associated with the proposed project in the application, rate the likelihood of the risks, rate the potential impact of the risks on the project, and identify actions that could help mitigate the risks. A risk analysis should not be considered a one-time exercise or a static document. DRL defers to organizations to conduct adequate risk analysis and remediation for all of its operations and advises that risk analysis and remediation occur throughout the life of a project and should result in revisions to risk analysis documents and processes as necessary. A suggested format for a risk analysis document is below. Applicants should include all assumptions and external factors identified in the logic model in the risk analysis. Applicants should rate the likelihood and potential impact of each risk as “High,” “Medium,” or “Low.” Additional lines can be included in the risk analysis table as necessary.

The safety and security of recipients and beneficiaries are of utmost importance. DRL requires all recipients to conduct thorough risk assessments and take all actions necessary in accordance with those assessments to mitigate those risks. DRL does not take responsibility for the risks incurred by any recipient.

 

Description of Risk

Likelihood of Risk

Potential Impact of Risk

Risk Mitigation Plan/Actions

Risks affecting realization of Project Objectives

 

 

 

 

 

 

 

 

 

 

 

 

Risks affecting realization of Project Outcomes/Outputs

 

 

 

 

 

 

 

 

 

 

 

 

Risks affecting Organization

 

 

 

 

 

 

 

 

 

 

 

 

Risks affecting Safety and Security of Personnel