Risks, Issues, Change Requests, and Action Items › Risks › How to Create Risks › Create Risks from Issues

Create Risks from Issues

Create new risks from existing issues. Basic information from common fields is carried over to the new issue for easy setup. You can link back to the originating issue from the risk for easy navigation between the records. In addition, you can manually associate risks or issues to each other. Manual association is useful for understanding the relationships between the risks and issues, providing better overall management of a project.

Follow these steps:

1. Open the project and click Risks/Issues/Changes.

   The risks page appears.

2. Open the Risks/Issues/Changes menu and click Issues.

   The issues page appears.

3. Click the name of the change request.

   The change request main page appears.

4. Click Create Risk.

   The create page appears.

5. Complete the following fields in the General section of the page:

   Risk Name

   Defines the short name for the risk. If you create a risk from a change request, the value for the field loads from the Change Request Name field. If you create a risk from an issue, the value for the field loads from the Issue Name field on the issue properties page.

   Limit: 64 characters

   Required: Yes

   Risk ID

   Defines the unique identifier for the risk. Once the risk is saved, you cannot change the identifier.

   Required: Yes

   Description

   Defines the short description of the risk. If you create a risk from a change request, the value for the field loads from the Description field on the change request properties page. If you create a risk from an issue, the value for the field loads from the Description field on the issue properties page.

   Required: No

   Category

   Defines the risk category to assign the risk. If you create a risk from a change request, the value for the field loads from the Category field on the change request properties page. If you create a risk from an issue, the value for the field loads from the Category field on the issue properties page.

   Values: Objectives, Sponsorship, Funding, Resource Availability, Interdependencies, Technical, Human Interface, Organizational Culture, Supportability, Implementation, and Flexibility

   Required: No

   Owner

   Defines the name of the resource who is managing the risk. This resource is responsible for verifying that the risk is managed and tracked appropriately through its lifecycle. If an issue or change request is created from this risk, the owner information is carried over to the issue or change request.

   Default: The resource currently logged in

   Required: Yes

   Priority

   Displays the priority of a risk.

   Values: Low, Medium, and High

   Detail Object: Internal Risk Priority Code

   Risk Status

   Displays the status of a risk.

   Values: Open, Work in Progress, Resolved, and Closed

   Detail Object: Internal Risk Status Code

   Creator

   Displays the name of the resource who created this risk.

   Default: The resource currently logged in

   Date Created

   Displays the date of creating the risk.

   Updated By

   Displays the name of the resource who last updated this risk.

   Default: The resource currently logged in

   Date Last Updated

   Displays the date when the risk was last updated and saved.

6. Complete the following fields in the Details section of the page:

   Risk Symptoms

   Defines the symptoms that identify this item as a risk.

   Impact Description

   Displays a description of the result the risk had on the project.

   Risk Impact Date

   Displays the date when the repercussions from the risk impacted the project.

   Target Resolution Date

   Displays the target date of resolving the risk.

   Assumptions

   Displays the assumptions that determined the risk.

   Associated Risks

   Defines the risks within this project that are associated with this risk. You can only link this risk to risks within this project.

   Associated Issues

   Defines the issues within this project that are associated with this risk. You can only link this risk to risks within this project.

   Response Type

   Defines the type of response you want to make with this risk.

   Values:

   • Watch. Use this type when you do not want to respond to a risk. This type is typically assigned for any risk whose calculated risk score is low. In other words, though risk probability or impact is not sufficient to warrant action, you still want to keep the risk open and monitor it.
   • Accept. Use this type when the risk exposure is accepted, and in some cases, there is no intent to pursue the risk.
   • Transfer. Use this type when you want to transfer the risk to a different project. Once transferred, you can close the risk.
   • Mitigate. Use type when you want to apply a risk response strategy to resolve the risk.

   Default: Watch

7. Complete the following fields in the Quantify Risk section of the page:

   Probability

   Defines the probability that the impact can occur. The risk probability is used to calculate the risk exposure.

   Values: Low (1), Medium (2), or High (3)

   Default: Low

   Calculated Risk

   Displays the score calculated based on the selections you make in the Probability and Impact fields.

   Risk values:

   • 4 - 6 (Yellow). The calculated risk is medium.
   • 7 - 9 (Red). The calculated risk is high.
   • 1 - 3 (Green). The calculated risk is low.

   Impact

   Defines the effect of the particular risk on the project, determined by the risk effect on project performance, supportability, cost, and schedule. This value is used to calculate the risk exposure.

   Values: Low (1), Medium (2), or High (3)

   Default: Low

8. Complete the following field in the Attachments section:

   Document

   Specifies one or more attachments.

9. Complete the following fields in the Resolution section:

   Resolution

   Defines the final resolution of this risk once the matter is resolved. The resolution data is useful for recalling the outcome of a risk response strategy when planning or approaching future project risk plans.

   Required: No

   Residual Risks

   Specifies the risks encountered or created within the project as a result of the mitigation taken to resolve the risk. Unlike associated risks, residual risks do not share similar outcomes, but result from an action you take in resolving a risk.

10. Save the changes.

More information:

Create Detailed Risks