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RiskAction: Risk Management ActionsThis template can help to elaborate recommendations for risk management. If your study does not include such recommendations, you can ignorethem. Risk management actions are required for all risk levels except low risks. Extremely high risks and high risks should be avoided or reduced.Target risk levels should be set and actions taken in order to reach them. All risks above a factor of 4 should be monitored and reported and riskmanagement responsibilities should be assigned.Risk Factor Description Action9-10 Extremely high risk7-8 High risk5-6 Moderate Risk1.2.3.1.2.3.1.2.3.Options for risk treatment: avoid, reduce, transfer, or retain risks; evaluate consequences and conductcost / benefit analysis of options; select best option; set target risk level; assign responsibilities;develop time table;Monitor the risksReport the risksOptions for risk treatment: avoid, reduce, transfer, or retain risks; evaluate consequences and conductcost / benefit analysis of options; select best option; set target risk level; assign responsibilities;develop time table;Monitor the risks;Report the risks;Options for risk treatment: avoid, reduce, transfer, or retain risks; evaluate consequences and conductcost / benefit analysis of options; select best option; set target risk level; assign responsibilities;develop time table;Monitor the risks;Report the risks;4 and below Low risk No action requiredSource: Risk Management Toolkit – Australian Capital Territory Insurance Authority, see http://www.treasury.act.gov.au/actia/Risk.htm392