The Risk app provided by Celoxis helps you manage the project risks that an organisation might speculate. You can record the Risks as individual app items and assign it to the person in-charge of it.
Workflow Steps:
- All the possible risks that might incur are reported by the responsible person. The Probability and the Impact of the Risk is reported at this stage. The Risk Score for this is calculated depending on the 2 values which notify the PM about the effects of the risk if it was to come true.
- The Risk at this stage is in 'Not Occurred' state.
- Once the risk occurs, the risk is moved to 'Occurred' state and is assigned to the person responsible for handling the risk.
- Once the Risk occurs, it is worked on by the person assigned to it. The Risk can then move to any of the following states:
- The Risk is Mitigated and moves to 'Risk Mitigation' stage because the impact of the Risk is reduced. The State Manager is responsible for this risk in this state.
OR - The Risk is moved/deffered to 'Risk Hold Off' state because its unlikley to occur now or impact the project progress. The State Manager is responsible for this risk in this state.
- The Risk is Mitigated and moves to 'Risk Mitigation' stage because the impact of the Risk is reduced. The State Manager is responsible for this risk in this state.
- The Risk can move to 'Mitigated' state back from 'Deferred' state which is the end state for the risk.
Celoxis provides a predefined project-specific Risk Register Report where you can view all the risks reported in a project and their impact probability and score.