Risk Analysis
The aim of risk analysis is to obtain a good understanding of risks. It offers elements that help to decide on whether treatment of a risk is necessary, and to select the most appropriate and cost-competitive treatment strategies. Risk analysis must take risk sources into account as well as positive or negative risk consequences.
The analysis phase associates a risk with:
• risk types
• risk factors (or causes)
• consequences
• objectives
Contextualization of a risk enables risk classification by:
• on the one hand their type
• on the other the objects to which they relate.
The same risk can relate to several component types specified in the risk scope:
• an entity,
• a process,
• a business line,
• a site.
These components are specified in the risk characteristics, in the Scope section. For more details, see Risk scope.