In our example, the most dangerous threats are:

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decrease in demand;
inflation;
difficulties with the interface;
data leak;
release date shift;
incorrect assessment of demand, etc.

For each threat from the red and orange zones, it is necessary to develop strategies for managing them. These can be measures to avoid, reduce, transfer or accept risks. It is convenient to describe latvia whatsapp phone number them in a plan, an example of which we gave above. A heat matrix can also be added to the plan for clarity.



Purpose
The next step is to assign responsibility for managing each threat. This could be a team member, a manager, or a project manager. It is important to set control deadlines and success criteria for each risk.



Tracking
It is necessary to regularly check how the work on threat management is progressing. Let's say that users may have difficulties with the interface of a mobile application. To solve this problem, we decided to develop onboarding for new users. To do this, we set deadlines and assigned people responsible for the task.

Now we need to periodically monitor how the onboarding development process is going, and whether we will have time to launch it immediately after the application release.



Reaction
If, despite all the team's efforts, a threat still arises, you need to react quickly and come up with a new plan of action to minimize the consequences. For example, if onboarding did not help and some users still do not understand how to work in the application, you need to create additional instructions: guides, video tutorials, webinars. This will help users quickly understand the new application.



Summary
Risks are uncertain events that may affect the achievement of project objectives or the progress of work. They may relate to timing, budget, risk of failure, quality, resources, and technology.
The goal of risk management in a project is to prevent financial losses and ensure business sustainability.
Threats are divided into controllable and uncontrollable. Controllable threats can be foreseen and influenced. Uncontrollable threats cannot be foreseen, as they do not depend on the team.
You can search for negative potential events using brainstorming, SWOT analysis, and the Delphi method.
To manage risks, you need to identify them and prioritize them. To do this, use a heat matrix. Then, methods for working with critical threats are prescribed, performers are assigned, and the work process is monitored.