Risk Register (Risk Events)
Risk events are discrete events (threats or opportunities) that carry both a probability and a potential cost/schedule impact to the project. They are typically captured and modeled in a risk register.
When you perform a risk analysis, you start by entering the risks into the risk register and assessing the probability of the risk occurring as well as the impact that you feel it will have on the schedule and cost. Acumen uses the probability indicator, together with either the cost or schedule risk impact (whichever is higher), to score and color-code the risk. The color coding allows you to easily see the different risk levels and the scoring allows you to prioritize risks.
- Related Topics:
- Risk Register Field Descriptions
Use the Risk Register view to create and edit risk events. - Risk Events Process
This topic describes the process you follow when you use risk events. - Risk Scoring Matrix
Before defining risks, you need to define how you want risks to be scored when running a risk analysis. - Automatic Calibration
Use the Auto Score and Auto Range options in the Event Template Editor Calibrate group for automatic calibration. - Custom Impact Types
You can add, edit, and delete custom event impacts and include a custom prefix and/or suffix. - User-Defined Fields in the Risk Register
You can add up to 10 user-defined fields to the risk register. - Types of Risk Events
After the risk matrix has been defined, you can add risk events to the risk register. - Mapping Risk Events to Activities
You must map risk events to activities/cost elements in order to include them in the risk model. - Absolute Mapping
The way Acumen Risk assigns risk impact across multiple activities depends on whether or not you use absolute mapping. - Use Risk Mitigation to Reduce or Eliminate Risks
Risk mitigation allows you to reduce or eliminate the risks associated with a project. - 3-Point Risk Impacts
As a risk user, you may want to set the minimum, maximum, and most likely impacts to time and cost. - Import and Export Risk Registers
You can import and export risk registers to and from Microsoft Excel. - Import and Export Activity Uncertainty
You can import and export activity uncertainty to and from Microsoft Excel. - Activity Durations
When Acumen imports or exports a risk register, the activity duration field units display in the unit that you set in the Display Settings Duration Time Unit field.
Parent Topic: S3 // Risk Tab