July 16, 2018
Information on how to manage Risks.
This section contains information on how to add risks to your project or programme and manage them on an ongoing basis.
Risks are uncertain events or conditions which, if they occur, could lead to undesirable consequences. These risks may threaten successful completion of the project / programme or they could threaten the health of your organisation in some way.
Risk management in i-lign conforms to the International Organisation of Standardisation’s risk management standard (ISO 31000:2009) which uses the following risk assessment steps:
Identify a risk
This first step involves describing the risk and recording key information such as the owner and type of the risk. See the screenshots below for information on how to add a risk to i-lign and record this risk identification information.
How to identify a risk
Analyse a risk
Analysing a risk involves assessing the likelihood and consequences of the risk and noting relevant controls. See the screenshots below for information on how to analyse a risk in i-lign. To do this you either open an existing risk which hasn’t been analysed yet or scroll down to continue to add information to a risk you are in the process of creating. Don’t forget to change the risk status to Analysis before you save your risk.
How to analyse a risk
Evaluate a risk
Evaluating a risk involves reviewing the information you’ve entered so far and considering an effective way to manage it. You might for example decide you want to mitigate the risk through the controls you’ve identified and/or through specific actions you will take (treatments). Or you might decide to accept the risk and simply monitor it.
See the screenshots below for information on how to evaluate a risk in i-lign. To do this you either open an existing risk which hasn’t been evaluated yet or scroll down to continue to add information to a risk you are in the process of creating. Don’t forget to change the risk status to Evaluation before you save your risk.
How to evaluate a risk
Treat a risk
A risk treatment refers to a specific action or plan put in place to address the risk. See the screenshots below for information on how to add a treatment to a risk. Note that when you actioning a treatment you will need to change the status of the risk to Treatment via the risk’s edit screen.
How to treat a risk
View your risks
The main place to view your risks is the Registers tab in the Delivery view of your project. You can also view your risk heat map on the Governance tab. See the screenshots below for examples of how your risk information is displayed. You can also set up a report template if you want a detailed paper report, say to take to a risk review meeting.
Examples of risk views
Update your risks
Most Project Managers monitor their risks on a regular basis. Use the risk status information to keep your risk information up to date. See the screenshot below for more information on this.