Risk treatment tips – remember CRAPT

Once you’ve identifed all the risk for a project, scored them and priorised. The next step in risk management is to consider what you are going to do. When treating risks, always remember CRAPT, the acronym stands for contingency, reduction, acceptance, prevention and transference

Contingency – simply think about what would you do if this happens? If there’s a failure what do you do, who is responsible.

Reduction – You can’t prevent the risk, there’s always a possibility. So what steps can you take to reduce the possibility of the risk occuring?  Think about training, awareness, technological or physical controls

Acceptance – Accept the risk you’ve identified and do nothing.  Risk treatment is your decsion, accepting the risk is perhaps only valid where a low rick score has been given and depends on your appetite for risk.

 Prevention – what can you do to prevent the risk from happening? Consider technology, tools available, what process changes are needed to stop the risk.

 Transferance – transfer responsibility for the risk to another party.  Could a supplier or other stakeholder take responsibility?  If you chose to do this make sure responsibilities are communicated and documented clearly, there must not be any ambiguity. You may need legal support too. 

A handy acronym to keep focused