See a project’s risks in the project details, and define these risks’ Impact and Likelihood to determine the project’s Risk Level.
General
Risks are project specific and can only be seen and edited in a project’s details. There are predefined system fields for risks, such as Risk Owner or Impact. You can also create custom risk fields and display them in the project details.
Risks are global, meaning that they are the same in all scenarios. When you change a field in one scenario, the risk will also change in all other scenarios, including the Plan of Record.
Changes made to a project’s risks can be seen in that project’s change log.
Required User Rights
If the Risks section is configured in the project details, it is visible for all users who open the project details.
To edit a project’s risks, you need the right Add, Edit, and Delete Risks under Project and Resource Planning > Projects > Detailed Project Rights.
To configure the Risks section in the project details, you need the right System Configuration > Types (Add Form, Details, Overview) under System Administration.
Risks in the Project Details
Risks can only be viewed and edited in a project’s details. In order to do this, you must have configured the Risks section in the project details.
Configuring Risks in the Project Details
In the left sidebar, click Manage > Types > Project Types and select the project details of the project type you want to display risks in:
Select the tab that you want to add the Risks section to and select Add Section > Risks in the toolbar.
You can choose which risk fields you want to display as columns:
In the top right corner, click Apply. Check how your fields are displayed in the project details of a relevant project:
Adding, Editing, and Deleting Risks in the Project Details
Open the relevant project’s details and go to the Risks section. Select Add Risk to add a new risk.
To make changes to an existing risk field, hover over the field and click:
The field Risk Level cannot be edited. It is calculated by multiplying the Impact by the Likelihood. The result is then assigned to the corresponding risk level.
To delete a risk, hover over the risk and click on the trash can symbol at the end of the row.
Manage Risk Fields
In Meisterplan, risk fields are managed separately from project and program fields. Under Manage > Fields > Risk Fields, you can see and edit the system and custom risk fields.
In addition, you can also choose to display the following system fields in the project details:
- Name: Describe the risk with a few key words.
- Risk Key: A unique identifier that is automatically system-generated. You can change this at any time.
- Risk Owner: Set a responsible resource for each risk; this person can keep the risk in check and communicate relevant changes.
System Fields for Risks
Impact
Type, name, and API Name are predefined. You can, however, add, edit, and delete values to fit your needs.
A value’s name and color are displayed in the project details.
The Impact is then multiplied with Likelihood. The result, the calculated risk score, is assigned to the corresponding risk level.
Likelihood
Type, name, and API Name are predefined. You can, however, add, edit, and delete values to fit your needs.
A value’s name and color are displayed in the project details.
The Likelihood is then multiplied with Impact. The result, the calculated risk score, is assigned to the corresponding risk level.
Risk Level
The calculation, type, name, API Name, and the number of decimal points displayed are predefined. You can, however, add, edit, and delete the ranges to fit your needs.
Each value range begins with the number stored here and ends immediately before the following range.
The lowest range cannot have a range start , because the lowest field always starts with the lowest value. The last range is open-ended, meaning that it is valid for all risk scores above it.
Example: In the screenshot above, there are three ranges: low (0-9), medium (10-19), and high (20+).
Value Range:
- Name: Choose a descriptive name. The name of the risk level will be displayed in the project details.
- Range starts at: Enter the value at which the risk range starts. The start and end of the range are not displayed in the project details.
- Color (optional): Select a fitting color. The risk level’s color will be displayed in the project details.
How is the Risk Level Calculated?
For each risk that you create, select the degree of impact and the likelihood from the drop-down menu:
The two values will be multiplied with each other in order to calculate the risk score. This score determines the risk level.
Example:
In the screenshot above, the risk "Additional Tool Costs" has been given an impact of two and a likelihood of three. This means the risk score is six.
This system’s risk level has three ranges:
This means that the risk "Additional Tool Costs" has a medium risk level.
Custom Risk Fields
You can also create custom fields for managing your risks. These custom fields can then be displayed in the project details.
Go to Manage > Fields > Risk Fields and click on Add Risk Field in the toolbar.
Select your preferred field type and enter in all required information.
Under Manage> Types > Project Types, open the configuration of the relevant project details, and add the newly created field as a column in the risk section:
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