Consequence Analysis Task

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A Consequence Analysis Task is a Risk Analysis Task that determines the consequence measure for each of the identified risks



References

2020

The level of risk created by the incident is then determined by analysing the combined impact of likelihood and consequences.

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Risk analyses are generally directed at the negative consequence of risks. The consequence measure therefore reflects the losses or undesired outcome that might arise. However, risk management is increasingly being applied to identify and prioritise opportunities as the risk associated with not exploiting an opportunity or embarking on a particular business strategy could be considerable. In many cases, the 'upside risks' are potentially more serious than the risk that bad events will occur (ie, the 'downside risk'). When considering opportunities, the likelihood measure need not change, as it will describe the chance that a benefit will arise. The consequence measure must, however, be adjusted.