This is step 4 in our risk management process.
This is an opportunity to make comparisons between the risks we have identified. It is useful to sort our risks into a prioritized order.
When we judge the priority of a risk, we take account of its likelihood and its impact. Risks that have a high likelihood and/or a high impact will appear towards the top of our prioritized list. Risks that have a low likelihood and a low impact will appear at the bottom of the list.
After Risk Prioritization the next step in the risk management process is Treatment Planning.