Adding project risks

When you plan a project, you identify potential risks, such as personnel, legal, and, cost. You can add risks both before the project starts and during the project. You might anticipate and resolve risks proactively or resolve them as they surface.

Before you begin

Use the Risk Management viewlet to perform this task. In the navigation bar, click Work, and click the Risk tab.

Before you add a project risk, make sure that the risk categories are created in the Administration view. For more information about risk categories, see Creating a risk category.

About this task

To add a risk:

Procedure

  1. From the WBS tree, select a project.
  2. In the Risk Management viewlet, click the Add icon Add.
  3. Double-click each field and enter the following information:
    • Name the risk. The corresponding Risk ID is generated automatically after saving the risk.
    • From the calendar, select the Identification Date and the Occurrence Date. These dates can be the current date or a past date. If you are only defining a risk, you can leave the date fields blank and select dates later when the risk occurs or is identified.
    • From the list, select a Risk Category.
    • From the Owner list, select the name of the owner.
    • Type the Consequence Cost.
      Note: When you enter a consequence cost, the probability cost and exposure are calculated and are displayed in the Details section.
  4. Optional: In the Details section, from the corresponding lists, you can select the state, the percentages of impact and probability, the level of precision, and the priority of the risk. You can also select the impact and probability of a risk by double-clicking a cell in the Risk Matrix.
  5. Optional: In the Description section, describe the risk.
  6. Click Save.

What to do next

You can add or update attributes or strategies, such as contingency plans, to mitigate risks. For more information about adding strategies, see Adding strategies to a project risk.


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