Working with Risks Enterprise Data

Risk Enterprise data is used to setup categories, risk scoring matrices, and thresholds that are standard across your company. The categories and matrices that are assigned to a project can be displayed in the risk register, which is located on the Risks page in the Projects section.

Risk Categories page: Risk categories are used to categorize and organize project risks. They are global across the enterprise and are a mechanism to group risks across multiple projects to see risk trends across the organization as well as a single project. Technical, Operational, and External are examples of risk categories that might apply to a typical project. The risk categories are created in the Risks Enterprise Data area and assigned on the Risks page in the Projects section.

Risk Scoring Matrices page: Create a risk scoring matrix to perform qualitative risk analysis on your project risks. When creating a risk scoring matrix, you must define the probability, tolerance, cost, and schedule impacts. Additionally, you can add user-defined impacts to the matrix. You must also assign a risk scoring method (Highest Impact, Average Impact, and Average Individual Impact) to the matrix. A probability and impact diagram is created based on the information assigned in the matrix. Click on the Probability and Impact Diagram detail window to view the diagram.

To use the risk scoring matrix, you must add the projects you want to use the matrix to the risk scoring matrix from the Projects detail window. You can also assign a risk scoring matrix to a project on the EPS page in the Projects section.

Note: You can add risks to a project without a risk scoring matrix; however, you cannot perform qualitative risk analysis and will not be able to assign probability or impact thresholds without a risk scoring matrix. You can add a risk scoring matrix to the project at any time.

Risk Thresholds page: Create risk thresholds, including probability, tolerance, cost impact, schedule impact, and any additional user-defined impacts, for use in the risk scoring matrix.

Risk UDFs page: Risk user-defined fields (UDFs) are used to track additional information about the risk that is not provided by the standard risk fields. Create Risk UDFs when it is necessary to view additional data fields on the Risks page. A risk UDF can include a text string, a numerical value, start date, finish date, cost, integer, or indicator.

Related Topics

Configuring Risk Enterprise Data

About Risk Scoring Matrices

About Risk Thresholds

About Risk Categories



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Last Published Friday, October 1, 2021