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Project Risk Management and Decision Analysis 

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Risks in RiskyProject

Once you have set up your Risk Outcomes, you can now set enter and assign risks to your schedule. Risks can be stored in the Risk Register. Risk Register is a set of risks with input and output parameters.

Risks in RiskyProject are defined the following manner:
1. Name: names must for each risk must be unique. It is case sensitive.
2. Parameters: Parameters can be inputs or calculated. Input parameters include is it Risk or Issue, is this Opened and Closed, as well as multiple risk properties: date, owner, contact, department, area of risk, etc. You define default risk properties in the Risk menu > Default Risk Properties. All risks are stored in Risk Register.
3. Assignment : risks can have global (to all tasks or resources) or local (to specific task or resources) assignments. If a risk is not assigned, the impact of the risk cannot be calculated
4. Mutually exclusive alternatives: each risk assignment may have one or many mutually exclusive alternatives. Each alternative includes chance of occurrence, outcome, and outcome result.

Your project has a risk: Low quality of component. The risk has the following input parameters:
•  It is open
•  It is a risk not an issue
•  It has a number of parameters: detailed description, dates created and modified, owner, recorder and other information.

You need to assign the risk to tasks or resources. This assignment information will include a number of mutually exclusive alternatives for to each task the risk is assigned.

For example, the risk is assigned to the task “Component installation” with one alternative: Chance of occurrence 10%, Outcome: Restart Task. The risk is also assigned to the task: “Testing” with two alternatives: Chance of occurrence 10%, Outcome: Restart Task and Chance of occurrence 15%, Outcome Delay 2 days.

See also

Risk Register

Setting up risk defaults

Saving and loading the Risk Register products      solutions      support      partners      technology      company

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