About Risks Properties

In RiskyProject, each risk can have a number of attributes. Here are some predefined risk attributes:

• Risk Name: the risk name for each risk must be unique. It is case sensitive.
• Open/closed risk: open risks are active risks that may occur. Closed risks may contain important information and should not be deleted from the risk register.
• Risks, issues, lessons learned: risks are events that may or may not occur and has a probability between 0 - 100%. Issues are events that have already occurred and require a response. Lessons learned are events that occurred in the past and have a history associated with them. When you add a new record to the risk register, by default it is a risk.
• Risk statement, objectives, assumption, cause and trigger: contain textual information about risks.
• Risk ownership: includes risk manager and risk owner. You may define other custom fields for risk reviewer, recorder, and other participants in the risk management process.
• Risk mitigation strategy: you can enter mitigation strategies for threat and/or opportunities. Threats and opportunities are automatically generated when you enter risk probabilities and impacts. If the risk is only a threat, you will only be able to enter strategies for threats and vice versa. For more information about threats and opportunities please read "Risk Probabilities and Impacts".
• Risk start and end date (risk sunrise and sunset): dates between which a particular risk is active.
• Risk ID: Risk ID can be automatically generated when you create a new risk. You may sort Risk Register based on Risk ID. You may always overwrite automatically generated risk ID. Rules for risk ID generation are defined in Risk Options. To access Risk Options on Schedule tab of the ribbon select Options and go to Risk tab.

• You can create any other risk properties using Default Risk Properties dialog box (Risk tab of the ribbon, Settings pane). In this dialog you can also define the default risk mitigation strategy and default time between risk sunrise and sunset.
• General Information about risks is a set of attributes that does not affect the calculation of probabilities, impacts, risk cost and mitigation efforts for qualitative risk analysis.
• In the case of quantitative risk analysis, changing a risk from open to closed from Risk to Issue or Lesson Learned will affect risk probability and impact. For more information about this please read Assigning Risks to Task and Resources.
• You define the default risk mitigation strategy and default time between risk sunrise and sunset in the Default Risk Properties dialog box (Risk tab of the ribbon, Settings pane).

See also

Adding Risk Properties

Risks in RiskyProject