Use the General tab to record basic information for the selected risk, including the risk's name, status, type, owner, and identification date. This tab also displays dates for when the selected risk may start and finish, as well as the potential cost the risk may impose.
ID: The unique identifier of the selected risk. You can type a new ID.
Name: The name of the selected risk. You can type a new name.
Category: The name for the selected risk's category. Click 
to select a new category.
Type: The kind of risk, threat or opportunity. A threat will have a negative impact on your project, while an opportunity will have a perceived benefit to the project.
Owner: The resource that has ownership of the risk. Click to select a new owner.
Status: The current state of the selected risk's status. You can select a new status.
- Proposed:The risk is identified and awaits approval.
- Open: The risk is approved as a valid risk to the project.
- Active: The risk is currently impacting the project.
- Rejected (Closed): The risk is not seen as a valid risk to the project and therefore will not be tracked and managed by the project manager. The data for this risk cannot be modified once it is closed.
- Managed (Closed): The risk occurred and was successfully managed by the project team and is no longer an active risk. The data for this risk cannot be modified once it is closed.
- Impacted (Closed): The risk occurred, impacted the project and is no longer an active risk. The data for this risk cannot be modified once it is closed.
Exposure Start: The earliest start date of all activities to which the risk is assigned. If no activities are assigned to the risk, the Project Start date is shown.
Exposure Finish: The latest finish date of all activities to which the risk is assigned. If no activities are assigned to the risk, the Project Finish date is shown. If there is no Project Finish date, the Project Schedule Finish data is shown. If there is no Project Schedule Finish date, then the Project Must Finish On date is shown. If there is no Project Must Finish On date, then the Project Start date is shown.
Pre-Response Exposure Cost: The potential cost of the risk. The value for the Post-Response Exposure Cost field is based on values selected for the Probability and Cost fields, located under the Pre-Response section on the Risks, Impact tab, and on cost figures associated with the activities assigned to the risk or to the project, if no risk assignments have been made.
The following discussion explains how the application calculates exposure cost. The discussion refers to both the Pre- and Post-Response Exposure Cost fields generically as Exposure Cost fields because both are calculated using the same equation.
The value for the Exposure Cost field is based on the values selected for the Probability and Cost fields, located on the Risks, Impact tab, and on cost figures associated with the activities assigned to the risk or to the project, if no risk assignments have been made.
The application calculates the Exposure Cost value using this equation: Exposure Cost = Planned/Budgeted Total Cost * (Probability Midpoint * Cost Midpoint).
The Planned/Budgeted Total Cost is the sum of the Planned/Budgeted Cost values for each activity assigned to the risk (or the planned project cost, if no activities are assigned to the risk).
The Probability Midpoint is the midpoint of the Probability field value for the selected risk. The Cost Midpoint is the midpoint of the Cost field value for the selected risk. The way each is calculated is discussed below.
Note: The Cost and Probability midpoint for the value Negligible is always zero, so the value of Negligible is not relevant to the following discussion.
The equation for the calculation of Probability Midpoint and Cost Midpoint varies, depending on which values are selected for the Probability and Cost fields:
- When using a value between highest and lowest:
- When a value of High (50% to 70%), Medium (30% to 50%), or Low (10% to 30%) is selected for the Probability field, then the Probability Midpoint is calculated using this equation: Probability Midpoint = (lower range for selected value + higher range of selected value)/2. So if the Probability value is Medium (30% to 50%), then the Probability Midpoint is calculated as follows: (30+50)/2 = 40%.
- When a value of High (20% to 40%), Medium (10% to 20%), or Low (1% to 10%) is selected for the Cost field, then the Cost Midpoint is calculated using the same equation as Probability Midpoint. So if the Cost value is Medium (10% to 20%), then the midpoint is calculated as follows: (10 + 20)/2 = 15%
- For highest values:
- When the value Very High (70% or higher) is selected for the Probability field, then the Probability Midpoint is calculated as the midpoint between the lower value and 100%. So the Probability Midpoint for the value Very High (70% or higher) midpoint is calculated as follows: (70 + 100)/2 = 85%.
- When the value Very High (40% or higher) is selected for the Cost field, then the Cost Midpoint is calculated using this equation: ((the lower range for the selected value * 2) + the high range for the selected value)/2. So the Cost Midpoint for the value Very High (40% or higher) is calculated as follows: ((40 * 2) + 100)/2 = 90%.
- For lowest values:
- When the value Very Low (<=10%) is selected for the Probability field, then the Probability Midpoint is calculated as the midpoint between zero and the upper value. So the Probability Midpoint for the value Very Low is calculated as follows: (0 + 10)/2 = 5%.
- When the value Very Low (Up to 1%) is selected for the Cost field, then the Cost Midpoint is calculated as the midpoint between zero and the upper value. So the Cost Midpoint for the value Very Low is calculated as follows: (0 + 1)/2 = .005%.
So if the Planned/Budgeted Total Cost is $700,689.00, and the Probability Midpoint is Medium (40%), and the Cost Midpoint is Very High (90%), then the Exposure Cost would be calculated as follows: $700,689.00 * (.4 * .9) = $252,248.00.
Post-Response Exposure Cost: The potential cost of the risk based on the response to the risk. The value for the Post-Response Exposure Cost field is based on values selected for the Probability and Cost fields, located under the Post-Response section on the Risks, Impact tab, and on cost figures associated with the activities assigned to the risk or to the project, if no risk assignments have been made. The equation for calculating Post-Response Exposure Cost is the same as used to calculate Pre-Response Exposure Cost. For more details, see the previous description for Pre-Response Exposure Cost, above.
Identified Date: The date the selected risk was identified. Click to select a new date.
Identified By: The resource who identified the risk. Click to select a new resource.