At this point, you are applying risk assessment concepts to track and monitor how the business is managing the identified risk. Monitoring the risk requires upfront communication with all business staff and stakeholders. For each risk - going from the highest risk to the lowest - take appropriate risk remediation actions to reduce the risk to an acceptable level. Treating the risk means taking the highest ranked risk and applying specific risk remediation actions to lower the risk to an acceptable level. The more likely the risk is to happen, and the more potential damage it might cause, the more business resources should be directed to reduce the risk. Prioritizing the risk combines the likelihood of the risk occurring with the potential damage the risk will cause if it occurs.
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