Risk Management Approach:
In identifying risks, the Project Team has also established a baseline risk impact criterion. These impact categories and their associated definitions can be found in Figure 6.

CATEGORY | DEFINITION | Critical (5) | An event that, if it occurred, would result in complete failure of the project (minimum acceptable requirements could not be reached) | Serious (4) | An event that, if it occurred, would cause major cost/schedule increases. Secondary requirements may not be achieved. | Moderate (3) | An event that, if it occurred, would cause moderate cost/schedule increases, but important requirements would still be met. | Minor (2) | An event that, if it occurred, would cause only a small cost/schedule increase. Requirements would still be achieved. | Negligible (1) | An event that, if it occurred, would have no effect on the program. |
Figure 6: Risk Impact Criterion
In addition to the risk impact, the risks probability of occurrence must be identified to completely define the impact a specific risks has on the overall success of the project. The probability of occurrence is defined in Figure 7:

PROBABILITY OF OCCURRENCE | INTERPRETATION | 1 - 10% | Very Unlikely to Occur | 11 - 40% | Unlikely to Occur | 41 - 60% | May Occur about Half the Time | 61 - 90% | Likely to Occur | 91 - 99% | Very Likely to Occur |
Figure 7: Probability of Occurrence Key

Risk # | Risk | Description | Category | Triggers | Probability | Impact | Risk Response | 1 | feasibility study report | Based on the outcome of this report , most feasible renewable source of energy will be selected | critical | Failure of project | 10% | high | Reinstate another feasibility study | 2 | key resources | External dependency on government inspectors. | Moderate | Delay in the project | 30% | moderate | We need to make sure that they are