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Project Risk Management and Decision Analysis 

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Risk register and issue management

A risk register is a set of all risks and issues in the project. Issues are risks that have occurred and therefore are having an actual affect on your project. You can easily convert risks to issues. You can open and close risks. Closed risks and issues will stay in the risk register but will not affect the project. Risks in the risk register may have different properties. You may define any properties for all projects. Among the properties available are owner, recorder, contact, date recorded, date converted to issue, location, etc. Risks and issues are fully searchable based on risk properties.

Risks and issue can be assigned to different tasks and resources or be global. For example, you could assign the risk “Budgetary problem” to all tasks that this risk could affect. When RiskyProject calculates probability and impact of the risks, it analyzes all risk assignment. Each risk assignment will have different chance of occurrence and outcomes. For example, “Budgetary problems” assigned to task “Project elaboration” will have chance of occurrence 30% and outcome “Restart task”. “Budgetary problems” assigned to task “Project transition” will have chance of occurrence 40% and outcome “Cancel task” .

The risk register presents calculated risk impact, risk probability and risk score, which is equal probability multiplied on impact. The risk register also shows probability, calculated impact and score of the risk after mitigation.

The risk register can be exported and used for other projects.

See also

Risks in RiskyProject

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