Assess each risk on two axes: likelihood and impact. Likelihood runs from 1 (very unlikely) to 5 (almost certain). Impact runs from 1 (negligible) to 5 (the event does not go ahead). Multiply the scores: that gives a risk score from 1 to 25.
Risks above 12 deserve a concrete action plan. Risks below 6 you can accept without extra measures. Example: cancellation of the keynote speaker (likelihood 2, impact 4, score 8) calls for a stand-in or alternative programme component as plan B.
Want to know more about risk inventory for your event? Read our full article →