Identify – Risk identification allows the AERD to identify risks so that it becomes aware of potential problems. Also, risk identification must be undertaken as early as possible, and it should be repeated frequently. Risk Statement – A risk statement provides the clarity and descriptive information required for a logical and strong assessment of the risk’s occurrence probability and areas of impact. Analyze and prioritize – Risk analysis transforms the estimates or data about specific risks that developed during risk identification into a consistent form that can be used to make decisions around prioritization. Risk Mitigation – The process by which AERD introduces specific measures to minimize or eliminate unacceptable risks associated with its operations. Categorization, Risk Mitigation Plan, and Implementation – Risk mitigation planning is the process of developing options and actions to enhance opportunities and reduce threats to AERD objectives, also Risk Mitigation Plan includes tracking, identified risks, evaluating risk, and categorizing risks. Furthermore, AERD Takes into consideration the implementation of executing risk mitigation actions.
. Track, Report and Control – AERD uses Risk tracking to monitors the conditions of specific risks and their progress in the action plan, also it includes observing the impact, exposure, probability, and other factors of risk. While Risk reporting is used to ensure that all operations staff, service managers, and stakeholders are aware of the situations of high risks and their managing plan. Risk control is the method by which AERD execute risk action plans and their associated status reporting. also Risk control includes lunching change control requests when changes in risk status or risk plans could affect the availability of the service. Risk Database – The new reports will be communicated within AERD and updated in the AERD Risk Management Database.