When you Mitigate or control a risk you plan tasks which reduce the impact or probability of the risk occurring. It is often useful to predict or forecast the anticipated cost impact or probability of this risk triggering AFTER the mitigation plan has been executed. This allows you to not only predict the reduced, target weighted cost impact of your risk (for forecasting future-state project management reserve) but it allows you to predict the expected benefit or improvement, and thus return on investment, of putting your mitigation plan into action.

• Normally you can directly enter the risk's target or forecast cost impact (following the mitigation plan) directly below the mitigation plan in the risk RESPONSE tab
• You can also optionally enter a residual cost impact for some or all mitigation plan tasks, on a task by task basis, and allow the system to adopt the residual cost impact and target probability % of the last mitigation plan task as your target or forecast.

Click on the RESPONSE tab in your risk and select "Mitigate or Control" as your response, both of which are highlighted in the screen shot above.

1. Enter one or more mitigation plan tasks to control or lessen the impact of the risk
2. The target probability defaults to the same probability you selected in your ASSESSMENT. Click a lower radio button option if the forecast or target probability of the risk occurring is lessened as a result of the mitigation plan
3. The target or "after mitigation" cost impact defaults to the initial cost impact. Enter a lower residual or target cost impact assuming that the mitigation plan does indeed reduce the impacted cost of the risk.

The target weighted cost impact, improvement, mitigation plan cost and return on investment are automatically calculated.