Assess each risk along two axes: likelihood (1 = very unlikely, 5 = almost certain) and impact (1 = negligible, 5 = event is canceled). Multiply the scores: this yields a risk score ranging from 1 to 25. Risks above 12 require a concrete action plan. Risks below 6 can be accepted without additional measures. Example: cancellation by the keynote speaker (probability 2, impact 4, score 8) requires a stand-in or alternative program component as a Plan B.
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