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Risk Object - New Fields required

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Level 3

19-07-2017

It would be really good to add the fields under the risk objects like Risk assignee & Risk Category with open editable fields.Also the dropdown options is also required.Please treat this on high priority and confirm.

11 Comments

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Level 10

19-07-2017

Yes, we'd love to also see a risk owner. You can create risk types (or categories) already, however-- it's a top-level selection in the admin menu [below Expenses] and you'll be able to select the type (or category) in a drop-down menu on the risk tab.

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Level 10

25-07-2017

We would really like improved Risk functionality - like who logged the risk, what date the risk was logged, and a field for updates, comments. It would be nice to see the Risk functionality mimic some the Issue functionality.

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Level 10

25-07-2017

If you like this suggestion, also look at another similar one logged & vote for this one too.

RISK OBJECT - CUSTOMISABLE

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Level 2

26-07-2017

It would also be good to see a risk treatment scoring (which can be adjusted in line with how tolerant your firm it is to risk) we have made this in a custom form but that require a dashboard to be associated in templates under a custom risk tab.

Example

Inherent impact X inherent Likelihood = Inherent Risk Score

Residual impact X Residual Likelihood - Residual Risk Score

Regards

Martin

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Level 2

04-08-2017

Hi Firstly I would like to point out that if you search for risks 15 votes have been applied to various threads that talk about a richer functionality in the Risk Register. I pointed this out to @nate_bagley who suggested that I find the one with the most votes and add my thoughts to this one. He has told me that the Idea Admins are looking into this issue as the disparate threads dilute the importance of this enhancement idea.

You will see that I added some thoughts above regarding scoring but I thought I would elaborate on this by sharing our complete Risk custom form, whilst this is not perfect I feel it does give a good basis for what I feel most Companies want and it is sorely lacking natively in Workfront.

Fields

  • Risk Description : in this we tend to use 3 statements here Cause: what the risk is; Event : What would trigger the risk: Impact: What would Happen.
  • Inherent Impact : (name and then score in brackets) Negligible (1); Minor (2): Notable (4); Substantial (8); Detrimental (16)
  • Inherent Likelihood: Unlikely (1); May occur (2); Likely as not (3); Likely (4); Certain (5)
  • Mitigation
  • Residual Impact: Negligible (1); Minor (2): Notable (4); Substantial (8); Detrimental (16)
  • Residual Likelihood: Unlikely (1); May occur (2); Likely as not (3); Likely (4); Certain (5)
  • Trend : Increasing; Decreasing; Static; Dead
  • Proximity: Immediate; Short Term; Long Term
  • Risk Response: Avoid; Reduce; Fallback; Transfer; Accept; Share; Exploit; Enhance; Reject
  • Risk Owner
  • Date Recorded

We have 2 calculated fields

  • Inherent Risk Score : PROD(Inherent Impact, Inherent Likelihood)
  • Residual Risk Score : PROD(Residual Impact, Residual Likelihood)

We use the residual impact score as a filter within the reports that we have created. hope this helps

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Level 3

07-11-2017

Add Risk type to the custom form drop down options then create custom forms and fields - everyone can have their risks their way.

WHat we want to do is use % Probability and $ Potential cost fields and generate our risk graph based on the Impact cost = (% Probability x $ Cost) as a percentage of the project budget.

Risk Rank

IF (Impact > 20% Budget = Alarm, (IF Impact > 15% Budget = High, (IF Impact > 6% Budget = Medium, Low)))

Then format:

IF Risk Rank = Alarm "Red text" "Light Red background"...

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Level 4

08-02-2018

Yes, this would be great. Currentl, we have to create issues with a custom form attached to record other important information about risks. This means we have a risk report and an issue report to view information on our projects' risks.

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Level 3

19-09-2019

This is a must for us. We currently also have to use Issues to record our risks on a project risk register as the in-built object is not fit for our purpose. We have calculated fields that generate a RAG status and there is no way to do this unless using a custom form for the issue. This means we cannot use the issue functionality for actual issues which is far from ideal.