PeopleSoft Program Management 9.1 PeopleBook

Managing Program, Project, and Activity Risks

This chapter provides an overview of program, project, and activity risks and discusses how to:

Create risks and action plans.
Review project risks.

Understanding Program, Project, and Activity Risks

A risk is anything that could jeopardize the successful delivery of a project. PeopleSoft Program Management enables you to enter program, project, or activity risks, risk triggers, and associated action plans. You can classify the risks by type, status, and priority. Risk triggers can be anything that might cause a program, project, or activity risk to occur. You can enter multiple triggers associated with one risk.

Creating action plans for every risk is a key step in managing program, project, and activity risks. Set up action plans as a method of responding to the risk. You can document procedures and techniques to respond to a program, project, or activity risk in the action plan that provide the program or project manager important information if a known risk affects a program, project, or activity.

PeopleSoft Program Management provides many features to monitor risks. This table displays the pages that you use to monitor risks:

Page	Monitor Method
Manager Workbench	Colored risk health indicator for project and activity health. Project Risk scorecards for the program or project and activity. Top five risks group box for project and activity.
Review Risks	Configure search criteria to filter the search results to the risks that you want to view.
Review Programs	Colored risk health indicator for each project in the selected program.
My Projects	Colored risk health indicator for each project.
Project - General Information	Colored risk health indicator for project health.
Top 5 Risks ESA Portal Pack (pagelet)	List of the five highest priority risks.

Note. The Top 5 Risks pagelet is available only if you have the PeopleSoft ESA Portal Pack.

Creating Risks and Action Plans

This section discusses how to:

Create program, project, and activity risks.
Establish actions plans for risks.
Add notes and attachments.

Pages Used to Create Risks and Action Plans

Page Name	Definition Name	Navigation	Usage
Project Risk	PGM_PROJECT_RISK	Program Management, Project Management, Add/Update Risks, Project Risk	Enter project risk details and triggers.
Action Plan	PGM_ACTION_PLAN	Program Management, Project Management, Add/Update Risks, Action Plan	Establish actions plans in response to risks.
Notes and Attachments	PGM_RISK_NOTES	Program Management, Project Management, Add/Update Risks, Notes and Attachments	View and edit comments or file attachments that are relevant to a risk.

Creating Program, Project, and Activity Risks

Access the Project Risk page (Program Management, Project Management, Add/Update Risks, Project Risk).

The project, project status, release, and project type fields all come from the program or project for which you are entering the risk.

Risk ID	Displays the automatically generated number unique to each project ID. The system displays Next until you save the project risk.
Activity	Enter the activity to associate with the risk. Leave this field blank if this is a project risk. This field does not appear if this is a program risk.
Risk Priority	Select the priority of the risk from these options: High, Medium, or Low. Risks in the Top 5 Risks group box on the Manager Workbench page and the Top 5 Risks pagelet are sorted in conjunction with the Priority Number. Risks are sorted first by risk priority, then by priority number.
Priority Number	Enter the ranking, between 1 and 999, of the risk. The priority number is relative to other risks that have the same risk priority. Enter the same priority number for two risks to indicate that the risks have equal priority.
Risk Type	Enter the type of risk to categorize this risk into a group. You define risk types on the Risk Type page. See Defining Risk Types.
Risk Status	Select the current status of this risk from these options: Active, Inactive, or Potential. The system displays risks with Active and Potential statuses on the Top 5 Risks group box on the Manager Workbench page and the Top 5 Risks pagelet.
Risk Owner	Enter the employee ID of the risk owner. This is for informational purposes only. The system does not use risk owner for any processing.
Assigned To	Enter the employee ID for the individual responsible for monitoring this risk. You can search all risks assigned to an individual on the Review Risks page.
Risk Summary	Enter a short summary of the risk. The Risk Summary appears as a link that allows you to access more information about the risk in the Top 5 Risks group box on the Manager Workbench page and the Top 5 Risks pagelet.
Risk Impact	Select the effect that this risk might have on the program, project, or activity. Options are: High, Medium, or Low.
Risk Probability	Enter the probability, between 0 and 100 , that this risk will occur. The system treats the value as a percentage (for example 50 means 50 percent).
Risk Consequence	Enter the description of the consequence if this risk were to occur.
Additional Fields	Click to transfer to a secondary page with ten additional user fields. The system does not use these fields for any processing or reporting, but you can enter any additional information for this risk.

Risk Triggers

Trigger Status	Select the trigger status from these options: Active, Ignore, and Inactive. This field is used for informational purposes only.
Created By	Displays the originator's name. The system populates this field when you save the risk.
Created On	Displays the date and time. The system populates these values when you save the risk.

Establishing Action Plans for Risks

Access the Action Plan page (Program Management, Project Management, Add/Update Risks, Action Plan).

Plan Type

Select the type of action plan from these options:

Acceptance: Select to indicate that you are not changing the project plan to deal with the risk, or that no suitable response strategy exists.

Avoidance: Select to indicate that you are changing the project plan to eliminate the risk or condition, protecting the project objectives from the risk's impact, or modifying the project objective to accommodate the risk.

Mitigation: Select to indicate that you are reducing the probability or consequences of a risk to an acceptable level.

Transference: Select to indicate that you are shifting the consequences of the risk, and ownership of the response, to a third party. Transferring the risk does not eliminate the risk, but rather makes another party responsible for its management.

Primary

Select to indicate that this action plan is the primary action plan. For a new project risk, the system assigns the first action plan as the primary action plan. You can select only one primary action plan for each risk. The system issues an error message when you save if you select the Primary check box for more than one action plan.

Business Impact

Use this section to identify the effect to a program or project's budget, cost, or revenue.

Financial Impact and Currency Code

Enter the monetary amount and corresponding currency code for the business effect of this action plan.

Schedule Impact

Use this section to record the effect to the project schedule, either a specific date or number of days that would be impacted if this risk occurs.

Resource Impact

Use this section to indicate the effect to resources if this risk occurs.

Resource Impact and Unit of Measure

Enter a number and the associated unit of measure, such as MDY (Person Day) or MHR (Work Hour), to indicate the effect to the resources.

Adding Notes and Attachments

Access the Notes and Attachments page (Program Management, Project Management, Add/Update Risks, Notes and Attachments).

Notes

Enter the description and notes that pertain to this risk.

Attachments

Attach any type of file to this risk.

Add Attachment

Click to add an attachment.

Note. You must have the File Attachment option set on the Installation Options - Project Costing page for attachments to work.

See PeopleSoft Asset Lifecycle Management, Enterprise Service Automation, Financial Management, Staffing Front Office, and Supply Chain Management Product-Specific Installation Instructions located on Oracle's PeopleSoft My Oracle Support website.

File Name

Displays the name of the file that you upload as a link. Click on the filename to view the attachment.

Added By, Name, and Date/Time Stamp

Displays information about the user who adds the attachment, and the date and time that the upload occurred.

Reviewing Program, Project, and Activity Risks

This section discusses how to review program, project and activity risks.

Page Used to Review Program, Project, and Activity Risks

Page Name	Definition Name	Navigation	Usage
Review Risks	PGM_RISKS_LIST	Program Management, Project Management, Review Risks, Review Risks	Search for project risks by using a configurable search page.

Reviewing Program, Project, and Activity Risks

Access the Review Risks page (Program Management, Project Management, Review Risks, Review Risks).

In the Selection Parameters group box, specify the search options to filter your search results to the risks that you want to view.

Business Unit	Enter a business unit. The business unit default value is based on user preferences.
Search	Click to display all projects risks that satisfy the search criteria in the Project Risks List group box. To iteratively narrow your search results, enter additional search criteria and click the Search button again.
Reset	Click to clear all optional fields in the Selection Parameters group box, and to clear the search results in the Project Risks List group box.
Risk Summary	Click the Risk Summary link to access the Project Risk page, on which you can view and edit data for the selected risk.
Add Project Risks	Click to access the Project Risk page to create a new program, project, or activity risk.