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2004 November Report of the Auditor General of Canada
November 2004 Report—Chapter 3
Exhibit 3.5—The six themes for evaluating risk management
We evaluated the risk management practices of the Department of National Defence and Public Works and Government Services Canada using the following criteria:
- Risk management planning. Did the entity plan properly and ensure that the level and type of risk management activity match the risk and importance of the project.
- Risk identification. Did the entity identify and document potential project risks.
- Qualitative risk analysis. Did the entity assess the impact and likelihood of the occurrence of the identified risk.
- Quantitative risk analysis. Did the entity determine how often each risk might occur and the consequences on project objectives.
- Risk response planning. Did the entity undergo the process of developing options and actions to enhance opportunities and reduce threats to the project's objectives.
- Risk monitoring and control. Is the entity identifying, monitoring, and dealing with risk across the project on a continual basis.
Source: Project Management Institute.