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

Create Risks from Change Requests

When you create a risk from a change request, some of the fields are populated with information from the related change request. To view the original change request from the risk, open the risk, and click the ID in the Originating Change Request field.

Follow these steps:

1. Open the project and click Risks/Issues/Changes.
2. Open the Risks/Issues/Changes menu and click Change Requests.
3. Click the name of the change request.
4. Click Create Risk.
5. Complete the fields in the General section. The following fields require explanation:

   Category

   Defines the category to which the risk belongs.

   Values:

   • Flexibility - The project is not adaptable.
   • Funding - The project funding is not allocated or is available with constraints.
   • Human Interface - The user interface (UI) is poorly defined.
   • Implementation - Uncertainties exist in the implementation effort and user acceptance
   • Interdependencies - The project is dependent on other projects.
   • Objectives - The requirements, objectives, scope, and benefits are unreasonable, unclear, not measurable, and not verifiable.
   • Organizational Culture - The project requires changes to the organization culture, business processes, procedures, or policies.
   • Resource Availability - The internal resource availability is uncertain and external resources are required.
   • Sponsorship - The sponsorship is not clearly identified and committed.
   • Supportability - It is not easy to support the project in the future and requires major updating.
   • Technical - The project technology is unproven and new internal or external expertise is required.

   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.

   Default: The resource that is currently logged in.

   Creator

   Displays the name of the resource who created this risk.

   Default: The resource currently logged in.

6. Complete the fields in the Details section. The following fields require explanation:

   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.

   Assumptions

   Defines the assumptions that determine that this item could be a risk. You can verify these assumptions to help ensure that they continue to be valid through the duration of the risk life. If the assumptions change, the impact or probability of the risk can also change.

   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.

7. Complete the fields in the Quantity Risk section. The following fields require explanation:

   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

   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

   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.

8. Attach the documents, if any in the Attachments section.
9. Complete the fields in the Resolution section. The following fields require explanation:

   Resolution

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

   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.