As a PM, RQ, I can plan and control risks

A project risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. That is, if risks materialize, they can make the project finish earlier or later, under or over budget, with higher or lower quality than expected, etc.

The Project Manager (PM), or other equivalent management role (PMA, PMO, PfM, PgM), and also requester role (RQ), can plan, implement, and control risks * in section *LOGS > Risk Register:

Click plus icon [+] to add a new risk. Click “greater than” icon [>] to open an existing risk. Any opened risk can be deleted with the delete button.

Individual risk details are:

  • Work Package: The work package which is the most related to this risk. Choose work package #0 for global risks. This is a mandatory field. It can be changed.
  • Risk Name: This is a mandatory field.
  • ID: Risk identifier code.
  • Risk Category: Risk category or type. Each business unit has its own risk categories.
  • Materialized? Field to mark if this risk eventually happened.
  • Description: Risk description.
  • Triggers: Description of events or situations indicating this risk is about to occur.
  • Assigned to: Person responsible to implement risk response. Write a name or select a team member.
  • Status: Risk status can be open, closed or watch list. This is a mandatory field.
  • Probability: Risk probability can be very low, low, medium, high or very high.
  • Impact: Risk impact can be very low, low, medium, high or very high.
  • Rating: Risk rating is how important is this risk compared to others. It is automatically calculated by multiplying probability and impact values. If the result is less than 7, it is shown in green color. Amber color is for values between 7 and 14. Red color is for values greater than 15.
  • Response: Risk response to be implemented can be accept, avoid, contain, mitigate, transfer, or escalate.
  • Mitigation Actions: Activities to be carried out before the possible risk occurrence.
  • Contingency Actions: Activities to be carried out after the possible risk occurrence.
  • Date Logged: Risk registration date. This is a mandatory field.
  • Due Date: Best estimate for risk materialization.
  • Materialization Date: Actual risk occurrence date.
  • Date Closed: Date in which this risk was closed.
  • Concluding Comments: Final comments on how this risk was managed are quite useful to other project managers in future projects with similar uncertainties.

Set toggle [Hiding Closed] on to show the closed risks. Set it off [Hiding Closed] to hide the closed risks. Set toggle [Sort by Rating] to order risks from highest to lowest rating. Set toggle [Sort by Due Date] to order risks from earlier to latest.

Finally, users can filter the risk register according to the person responsible, risk category, status, rating, materialized or not, and due date ranges.

Frequently Asked Questions
Who can plan and control risks in PMPeople?

Project Managers (PM), other management roles (PMA, PMO, PfM, PgM), and the Requester (RQ) role can plan, implement, and control risks in LOGS > Risk Register.

How do I add and manage risks in the Risk Register?

Click the [+] icon to add a new risk or the [>] icon to open an existing one. Fill in details such as Work Package, Risk Name, Category, Probability, Impact, and Response. You can also log mitigation and contingency actions, due dates, and closing comments.

How can I sort or filter the Risk Register?

Use toggles to hide/show closed risks, sort by rating, or sort by due date. Filters allow you to narrow results by person responsible, category, status, rating, materialization, and due date range.