What Types of Events Are Considered Triggers for Risk Assessment
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Nov 24, 2024
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What Types of Events Are Considered Triggers for Risk Assessment?
When it comes to triggering events, there are a few factors which contribute to risk assessment. Once
we determine a risk trigger, it allows us to monitor and evaluate how the occurrence of the risk might
affect a particular project or system. As far as mitigation measures are concerned, we can then be put in
place early enough to ensure that the impact of the risk is minimal, if not eradicated. Understanding risk
triggers can promote a proactive response rather than a reactive response to the risk. The trigger
identifies the risk symptoms or warning signs (Lavanya & Malarvizhi, 2008). For instance, if you identify a
risk that weather will close your business, an approaching hurricane may be the trigger that causes the
risk to occur (Spacey, 2023).
The following are common examples of risk triggers: Audits, organizational changes, breach, disasters,
mergers. A threat is any circumstance or event with the potential to adversely impact organizational
operations and assets, individuals, other organizations, or the Nation through an information system via
unauthorized access, destruction, disclosure, or modification of information, and/or denial of service
(NIST, 2012). Threat events are caused by threat sources. A threat source is characterized as: (i) the
intent and method targeted at the exploitation of a vulnerability; or (ii) a situation and method that may
accidentally exploit a vulnerability. In general, types of threat sources include: (i) hostile cyber or physical
attacks; (ii) human errors of omission or commission; (iii) structural failures of organization-controlled
resources (e.g., hardware, software, environmental controls); and (iv) natural and man-made disasters,
accidents, and failures beyond the control of the organization (NIST, 2012).
Risk trigger examples (Patrick, 2023):
Changes to government regulations.
Approaching peak server capacity.
Receiving a complaint from a customer.
The unavailability of required project inputs.
Key project team member becomes ill.
References
Lavanya, N. & Malarvizhi, T. (2008). Risk analysis and management: a vital key to effective project
management. Paper presented at PMI® Global Congress 2008—Asia Pacific, Sydney, New South Wales,
Australia. Newtown Square, PA: Project Management Institute.
NIST. (2012). Guide for Conducting Risk Assessments NIST Special Publication 800-30 Revision 1 JOINT
TASK FORCE TRANSFORMATION INITIATIVE.
https://nvlpubs.nist.gov/nistpubs/legacy/sp/nistspecialpublication800-30r1.pdf
Patrick, K. (2023, June 5). Risk triggers in project management. GoSkills.com.
https://www.goskills.com/Project-Management/Resources/risk-trigger-project-management
Spacey, J. (2023). 62 examples of a risk trigger. Simplicable. https://simplicable.com/risk/risk-trigger
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