How to Create Risks

Project Cloud
Other groups

Create Risks for Projects

At the app drawer screen, click on the ‘Project’ App in the Project Cloud Drawer.

CloudOffix App Drawer page, Click the Project App to begin.

Fig. 1: CloudOffix App Drawer page, Click the Project App to begin.

In the ‘Projects’ dashboard, hover on the ‘Search’ menu, locate and click on ‘Risks’ from the menu list.

Locate Risks in the Search Tab

Fig. 2: Locate Risks in the Search Tab

This will bring us to the ‘Risks’ dashboard, where we can see a list of risks currently in the system. Click the ‘New’ button to create a new risk.

Click the ‘New’ button

Fig. 3: Click the ‘New’ button

The following screen is the ‘New Risk’ screen. Enter a name for the newly created risk. This is a mandatory field.

The Name field is Mandatory

Fig. 4: The Name field is Mandatory

Select a category in which the risk fits into.

Select an appropriate category for the Risk from the Category field.

Fig. 5: Select an appropriate category for the Risk from the Category field.

Select a Probability for the risk eventuating. The drop down list offers Rare, unlikely, possible, likely, and very likely as options to choose from.

Probability of Risk happening.

Fig. 6: Probability of Risk happening.

Select the impact this risk will have on the project at hand if it were to become reality. Select from the drop down list of impact outcomes: Trivial, minor, moderate, significant, extreme.

The impact of the Risk on the Project

Fig. 7: The impact of the Risk on the Project

Select the owner and the Actionee for the risk. the owner monitors the risk, and the actionee takes the necessary action to revert the loss. In this instance for example, the HR Manager will hire new staff.

Allocate Owner and Actionee.

Fig. 8: Allocate Owner and Actionee.

Time impact shows the percentage of time that is impacted as a result of this risk taking place. This field is very significant, as it determines whether the risk is positive or negative. If the value entered is positive, the impact of the risk is negative because it means the project cannot be completed at the given time. If the value is negative, the impact is positive because the chance is that the project can be completed earlier than the given time. Select the ‘Affected Tasks’ from the list of tasks on the project. Click ‘Save’.

Time impact and Affected Tasks.

Fig. 9: Time impact and Affected Tasks.

The risk has been created and is at the draft stage.

Risk has been Created.

Fig. 10: Risk has been Created.

Congratulations! You have just created a Risk.