Project Management – Risks

Project Management – Risks

Purpose

The Risks feature enables teams to proactively identify, assess, and manage uncertainties that may affect project delivery, cost, scope, quality, or timelines.

By formally registering and monitoring risks, projects gain early visibility into potential threats and can define mitigation and contingency actions in advance, strengthening governance and increasing delivery resilience.

Where to Manage Risks

Access Path

Project Management → Projects → Open a Project → Risks

The Risks tab is available when enabled in the selected Project Process.

What Is a Risk?

A Risk represents a potential event or condition that could impact the project if it occurs.

Each risk combines:

• Impact (severity of consequences)
• Probability (likelihood of occurrence)
• Score (calculated risk level)

This structured assessment allows risks to be prioritized, monitored, and addressed consistently across projects.

Risks Tab Overview

The Risks tab displays all risks registered for the project in a structured list.

For each risk, users can review:

• Risk name and description
• Due date and closing date
• Impact category and level
• Probability and calculated score
• Current risk status
• Root cause
• Assigned responsibility
• ...

This overview helps teams quickly identify high-priority risks and track their resolution status.

Available actions include:

• Add a new risk

• Open and update existing risks

• Filter, sort, and export risk data

• Customize visible columns

Creating a Risk

Select Add Risk to register a new risk for the project.
A dialog opens with three main sections: Risk, Mitigation Plan, and Contingency Plan.

Risk Details

The Risk section captures the core information required to assess and prioritize the risk.

Core Fields

Risk Assessment

Impact Category

Defines the area affected by the risk, such as:

• Schedule
• Cost
• Quality
• Scope
• Resources
• Reputation

Impact Level

Defines the severity of the impact if the risk materializes (e.g. Low, Medium, High, Critical).

Probability

Defines the likelihood of the risk occurring.

Impact levels and probability scales are configured centrally and reused across projects.

Risk Score

The Score is calculated automatically based on:

• Selected Impact Level
• Selected Probability

The resulting score is used to:

• Prioritize risks
• Highlight critical threats
• Support dashboards and reporting

Mitigation Plan

The Mitigation Plan defines actions intended to reduce the likelihood or impact of the risk before it occurs.

Users can add one or more mitigation actions, specifying:

• Action description
• Owner
• Due date

Typical mitigation actions include:

• Preventive measures
• Process adjustments
• Additional controls
• Early warning indicators

Contingency Plan

The Contingency Plan defines actions to be executed if the risk materializes.

Contingency actions ensure:

• Faster and more structured response
• Reduced disruption to the project
• Clear ownership during incidents

Together, mitigation and contingency plans provide full preparedness across risk scenarios.

Risk Status Management

Risk statuses are centrally managed in:

Acess Path

Control Center → Project Management → Status → Risks

Risk status updates influence:

• Project dashboards
• KPIs and reporting
• Governance and management visibility

Only statuses configured in the Control Center are available for selection.

Best Practices

• Identify risks early in the project lifecycle
• Review and update risks regularly
• Focus mitigation efforts on high-score risks
• Assign a clear owner to every risk
• Keep mitigation and contingency plans actionable and current
• Close risks once they are no longer relevant

Related Articles

Project Management – Projects (Overview)
Project Management – Milestones
Project Management – Billing Plan
Project Management – Commercials
Project Management – Track Project Progress & KPIs