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No matter wether Low or High Priority But A risk Always remains a Risk. We cannot remove or neglect risks completly but can keep it at Manageble level. A low priority risk is said to be a "Spark Neglected Burns the house"
Neglecting a risk is a risk in itself. Bravery in neglecting may lead to martydom at a younger age. On the other hand channelizing project risks wether low or high would make your life heavenly within this world.
Any risk ,low or high ,should not be neglected, proper monitoring and eradication is alway necessary.
All the risks irrespective of their impact or probability severity should be captured in the system and be tracked regularly.
A risk which is low at a point in time could become high risk and vice versa.
Low priority risks deserve sufficient attention during the monitoring and controlling process for one reason: a low priority risk may become a top priority risk and if not well managed it may negatively impact the project outcome.
Low risks’ owner occupies a central role in the risk monitoring, but since the overall responsibility of risk management comes to the project manager, the latter will need to ensure that low priority risks are not neglected by their owners.
Great Project managers do not miss the opportunity to carry out risk audits or reassess risks during project review meetings or status meetings.
