Risks, Issues and Opportunities are rated by a combination of their Impact and Likelihood ratings. To allow for different ways of managing risk severity, colours and descriptions, we have created a customisable matrix whereby you can pick the colour of each combination of impact and likelihood, and add descriptions to those colours. Admin users can control this by clicking on your avatar and navigating to Settings > Planning > Risk RAG Matrix.

Risk, Issues & Opportunity RAG ratings are calculated automatically depending on the impact and likelihood settings chosen when the Risk is created by a user, in accordance with your custom risk matrix.

  • Impact scores go from 1 to 5 and have the default values of Low, Minor, Moderate, Major and Extreme;

  • Likelihood scores go from 1 to 6, with 6 being Issue, and the default values of Highly Unlikely, Unlikely, Possible, Likely, and Highly Likely for 1 to 5.

These values can be edited in the same section of the Settings area.

You then have the option of choosing a RAG colour for each cell in the matrix, i.e. for each combination of impact and likelihood. There are 5 colours to choose from users but users do not have to use all 5 colours. You can then choose a description for each colour.

Any changes here will be applied to all Risks, Issues and Opportunities across your WeTrack system.

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