Managing a Project: Using the Risk Register

The Risk Register serves as a way to surface potential or actual risks to a project's timeline, budget, etc. By capturing these risks--their level of impact and their level of likelihood--we are able to consider them in planning and keep all stakeholders in the loop.

1. The Risk Register can be accessed at the project level in the Critical Path, Power Grid, Timeline, Thumbnail, and Kanban views via the top menu. Click on the Risk Register icon to open.
   
    

2. The Risk Register opens, displaying the following features:
   
   
   

   a.	Filter: Use the Filter to limit the items displayed in the Risk Register based on specific criteria (Project, Discovery Date, Changed Date, Created Date).
   b.	Group: Click to open the Group dropdown menu, revealing options for how risk items are displayed.
   c.	Column Headers: Click to reveal all available column headers. Columns may be selected or unselected for display in the Risk Register Power Grid.
   d.	More Options: Click to access a dropdown menu with options to Reset Columns, Export, or Print the Risk Register.
   e.	Grouping: This header indicates that the risks are being grouped. In this case the grouping is performed on Risk Probability.
   f.	Status: Click into this field to open a dropdown menu and select the status that best fits the risk item being input.
   g.	Name: This is a mandatory field and should briefly describe the risk.
   h.	Project: This field is filled in automatically based upon the project to which the risk is being added and cannot be modified.
   i.	Probability: Click into this field to open a dropdown and select a rate of probability that this risk will impact this project.
   j.	Impact: The impact field tracks the level of disruption that would occur should this risk be realized.
   k.	Priority Score: The priority score is calculated based upon the probability and the impact, as a risk that is very likely to occur and would have a massive impact should be addressed prior to one with a low likelihood of occurence and a small impact.
   l.	Category: Click to associate the risk item with a category. If a fitting category does not currently exist, it can be added here.
   m.	Tasks Affected: Optionally, choose one or several tasks from the dropdown listing that would be impacted should this risk come to fruition.
   n.	Add a New Risk: Click to add a new row to the Power Grid and capture a new risk.
   o.	OK: Click to save changes and close the Risk Register.

3. Note that it is possible to control visibility of risk items via the Visibility column. Options include limiting visibility to Project Owners & Team Leaders or Internal Team Members. By default, risk items are set to be visible by All Project Participants.
4. The data from the Risk Register is also available for use in the project and project portfolio dashboards as custom panels.