Overview
The Risks Register gives project request reviewers and project team members the ability to record and manage risks separately from issues. Project risk management usually begins during the request phase and continues throughout the project lifecycle. Project risks entered during the request process in Portfolio Planning remain with the request if it transitions to become an approved project. The Risks Register was designed to support risk tracking per Project Management Body of Knowledge (PMBOK) guidelines and terminology. Risks can be either threats (hurt), or opportunities (help) to the project.
Understanding the Risk Matrix
As risks are assessed their probability, and impact is assigned. Risks are assigned an urgency based on the probability and impact values entered, and together the three values are used to map the risks into the matrix, where they are represented by a number. If more than one risk has the same values, the number will be greater than one. The numbers in the risk matrix are also links to the relevant risk records.
Is there any additional information I should know about?
Additional information on creating risks, risk categories, and more is available in the following KB articles.
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