Use the Impact tab to enter pre-response, response and post-response information, and to view calculated pre- and post-response scores.
Select values in the Pre-Response section to characterize the potential risk in terms of its likelihood of occurring (Probability field), its impact on the schedule (Schedule field), and its impact on cost (Cost field). Together the Schedule and Cost fields are called the impact fields. The application uses the values from the probability and impact fields to calculate a Score, also shown on this tab.
If you choose to respond to a risk you can use the fields in the Response and Post-Response sections. Using the Response fields enables the Post-Response fields. The fields in the Post-Response section mirror those in the Pre-Response section, but they are used to measure the significance of the risk based on the response.
Pre-Response section
Probability: The probability of the risk occurring.
- <None> (Clears a previous selection, if any.)
- 1 - Very High (70% or higher)
- 2 - High (50% to 70%)
- 3 - Medium (30% to 50%)
- 4 - Low (10% to 30%)
- 5 - Very Low (Up to 10%)
- 6 - N (Negligible)
Schedule: The impact on the schedule if the risk occurs.
- <None> (Clears a previous selection, if any.)
- 1 - Very High (20% or higher)
- 2 - High (10% to 20%)
- 3 - Medium (5% to 10%)
- 4 - Low (1% to 5%)
- 5 - Very Low (Up to 1%)
- 6 - N (Negligible)
Cost: The monetary impact on the project if the risk occurs.
- <None> (Clears a previous selection, if any.)
- 1 - Very High (40% or higher)
- 2 - High (20% to 40%)
- 3 - Medium (10% to 20%)
- 4 - Low (1% to 10%)
- 5 - Very Low (Up to 1%)
- 6 - N (Negligible)
Score: The overall risk score based on the values you select for three fields: Probability, Cost, and Schedule. Two of these fields, Cost and Schedule, are known as the impact fields.
The Probability field and each impact field have these possible values: Very High, High, Medium, Low, Very Low, and Negligible. The application uses the highest value selected for the Cost and Schedule fields as the overall impact value. The application determines the Score by plotting the overall impact value with the value entered for Probability, as shown in the table below.
For example, if you enter the value Low for Cost and the value Medium for Schedule, the application uses Medium, the highest of the two, as the overall impact value. The application then uses the table below to determine the Score value by plotting the overall impact and Probability values. The columns in the table represent the overall impact values (Negligible through Very High), while the rows represent the Probability values (Very High through Negligible). The application determines the Score as the number that corresponds to the intersection of the applicable Impact column and Probability row. So, to continue our example, if you entered a value of High for Probability, the Score would display as 14, the number shown where the Impact Medium column intersects the Probability High row.
| Impact Negligible | Impact Very Low | Impact Low | Impact Medium | Impact High | Impact Very High |
|---|---|---|---|---|---|---|
Probability Very High | 0 | 5 | 9 | 18 | 36 | 72 |
Probability High | 0 | 4 | 7 | 14 | 28 | 56 |
Probability Medium | 0 | 3 | 5 | 10 | 20 | 40 |
Probability Low | 0 | 2 | 3 | 6 | 12 | 24 |
Probability Very Low | 0 | 1 | 1 | 2 | 4 | 8 |
Probability Negligible | 0 | 0 | 0 | 0 | 0 | 0 |
Response section
Response Type: The action to take in response to the score for the risk. If the risk is a threat, the values are Accept, Avoid, Reduce, or Transfer. If the risk is an opportunity, the list of values are Enhance, Exploit, Facilitate, and Reject. Selecting <None> clears a previous selection, if any.
Response Description: The description of the response.
Post-Response section
Probability: The probability of the risk occurring.
- <None> (Clears a previous selection, if any.)
- 1 - Very High (70% or higher)
- 2 - High (50% to 70%)
- 3 - Medium (30% to 50%)
- 4 - Low (10% to 30%)
- 5 - Very Low (Up to 10%)
- 6 - N (Negligible)
Schedule: The impact on the schedule if the risk occurs.
- <None> (Clears a previous selection, if any.)
- 1 - Very High (20% or higher)
- 2 - High (10% to 20%)
- 3 - Medium (5% to 10%)
- 4 - Low (1% to 5%)
- 5 - Very Low (Up to 1%)
- 6 - N (Negligible)
Cost: The monetary impact on the project if the risk occurs.
- <None> (Clears a previous selection, if any.)
- 1 - Very High (40% or higher)
- 2 - High (20% to 40%)
- 3 - Medium (10% to 20%)
- 4 - Low (1% to 10%)
- 5 - Very Low (Up to 1%)
- 6 - N (Negligible)
Score: The overall risk score based on the values you select for these three fields in the Post-Response section: Probability, Cost, and Schedule. Two of these fields, Cost and Schedule, are known as the impact fields. For more details, see the previous description for Score, above.