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Create and Manage Risk Items

Learn how to create a new risk item and add mitigation items. This article also shows how to add items in bulk.

Video

Summary

  1. The Risk Register solution gives you comprehensive insights into the evolving risk landscape of your projects, allowing you to make informed decisions and stay proactive.

  2. To add a risk item, click on New Risk. You can add a risk from the library or add a risk from scratch.

  3. First, add a name, and choose a category from the list.

  4. You can add a description and many more details to this risk item.

  5. Specify the appropriate component of the risk, its likelihood and its impact on the budget. ConCntric estimates the cost impact of this risk, which can be modified as needed.

  6. Add mitigation items to your risk including action plans and due dates. You can also assign this action item to a team member and update the status as needed.

  7. Attributes are a great way to customize your risk items. You can activate attributes here and fill out the needed information. You can also add new attributes and add them to your catalog.

  8. Finally, you can add this new risk to the library to be used on other projects.

  9. On the main page, you can use the filters to easily find the items you are looking for. You can use the table heading to sort through items, and save the filters in a view for faster access.

  10. Expand the risk item to see its mitigation plan and the status of each action item.

  11. To manage your risks in bulk, you can toggle the table view by clicking Manage Risks, and paste values from a spreadsheet.

  12. The risk items you input in Risk Register will affect the projected total cost of the project if you toggle Show Risk on.

FAQ

Can I add or delete a risk category?

The list of risk categories is system-created and cannot be modified. You can use attributes if you want to add more details to the risk item.

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