Risks, Issues & Opportunities allow you to deal with uncertainties as you plan your events and projects, and so they are essential to your project management. We’ve made it easier than ever to create, track and deal with new risks.
There a few places to go to create a Risk. You can click on the ‘Add’ button in the top right-hand corner of the page, and click ‘Add Risk’; you can click ‘+ Risk’ at the top of the Risks, Issues & Opportunities Homepage; or you can click ‘+ Risk’ inside any Project Details Page, in the Risks, Issues or Opportunities tabs in the second half of that page.
Every option takes you to the ‘Add New Risk' modal, where you can input the details for your Risk, Issue or Opportunity. If you are adding a risk directly into a project, those details will be pre-selected in the modal.
First, select whether you are creating a Risk, Issue or Opportunity. Then, input the following information:
Title: make sure this is distinguishable from other risks;
Status: choose whether to create this Risk as a draft, or as Open or Closed;
Likelihood and Impact: choose the Likelihood and Impact ratings, which will automatically set the RAG status for the risk. If you are creating an Issue, the Likelihood will automatically be set to ‘Issue’;
Choose a responsible individual and department for the risk, as well as the Project that the task will sit in;
Impact Type: choose an impact type for the risk, issue or opportunity. We recommend creating separate items for each Impact Type to allow you to plan the responses for each of these impacts separately;
Strategy: choose how you will manage this item. The default options here are Mitigate for a Risk, Contingency for an Issue, and Exploit for an Opportunity.
If there is then further information which you need to input, you can click ‘Show More’, to bring up the following options:
Start and Due Date: if necessary, you can select start and due dates for your risk here;
Event: if applicable, associate the risk to the event which you are working on;
Financial Impact: this is a free text field for you to input a financial impact to the uncertainty, if necessary;
Privacy: a risk is Open to those with correct permissions by default, but you can make it Confidential to an even more select group of users;
Identified By: here you have the option to select the user who identified the risk;
Insurance: here you can select any insurance policies that apply to the risk;
Description: here you can type a formattable description for the risk;
Tags: here you can select any tags that apply to the risk. These are all set up in the Tag Manager section of the Settings area.