How do we close a risk properly?
Unsupported risk closureClose a risk when its exposure no longer applies or has been resolved with evidence. Preserve the record and verify that residual or transferred risks still have owners.
What to do now
- Confirm why the exposure ended
- Check remaining conditions and actions
- Record closure evidence and authority
- Carry forward any residual risks
When to escalate
Escalate when
The proposed closure depends only on optimistic assumptions.
Who decides
The accountable risk owner
Example
A permit risk closes after the valid permit is issued, not after the application is submitted.
Mistake to avoid
Closing a risk because its review date has passed.
Prevent a repeat
Review whether response tasks and trigger conditions remain appropriate as the project changes.
Suggested ApprovedFlow setup
- Documents
- Tasks
- Approvals
Store the risk assessment as a controlled project document and assign response tasks; do not assume a native risk engine is enabled. See the platform
Related cases
- How often should we review project risks?Static risk review cadence
- The team rates every risk as high. How can we prioritize?Undifferentiated risk assessment
- We are closing with residual risks. What must be transferred?Unowned residual risk exposure
- When should I release team members from a closing project?Unplanned resource release