Risk Management

Risk is the positive or negative uncertainty of a potential outcome, the difference between the best and worst case scenarios in terms of time and cost.

Reasons for Risk are defined in a tree structure to allow for Risks to be reported individually or as a group, i.e. Weather can include Rain, Wind and Snow, and Rain can include Heavy Rain, Sleet, and Drizzle. (See Navigator->Risks)

·	Risk is assigned to Tasks and a value attributed, and can only be incurred once a Task has been Started.

·	The value of Risk can be described in terms of having a fixed or variable impact.

·	The likelihood or potential of the Risk being incurred (High, Medium, Low) and whether the Risk is considered to be additive or subtractive are also set once a Risk is assigned to a Task.

·	Once Risks are assigned, users can choose to mitigate a Risk, or move Risk to buffer positions at a chosen point in a chain of Tasks.

·	By using buffering, target programs and therefore target demand can be established, Risk is not increased, and should a Task begin to fail then Buffered Risk can be reassigned.

·	All Tasks downstream of the buffer will not be affected

·	For all assigned Risks on Tasks, a register is provided displaying highest impact / highest value first.

·	The Risk Register can be filtered to show entries for one or more Risk reasons, for one or more companies, for one or more Tasks.