What is the Risk Management Feature? #
The Risk Management module provides you with a centralized, easy-to-use tool to effectively manage and track risks, with the goal of minimizing their impact on a project. Unmanaged risks may result in costly budget overruns, scheduling delays, quality impacts, legal and compliance violations, communication breakdowns, and more. With this tool users can identify and prioritize risks either manually or automatically, based on predefined parameters. The module allows the tracking of issues in real-time, categorizing them by category and severity, assigning clear responsibility for management, and facilitating the response according to your organization’s approach.
Risk Management Navigation #
The Risk Management module can be accessed in the following way:
- From the Program Management section in the left-side navigation panel, select
- Select Risk Management to expand the areas available within the tool, namely:
- Risk Dashboard
- Risk Register
- My Tasks
Note: All users should see at least the “My Tasks” area. However, for users that need to view, manage or administrate risks, you are expected to see all three of the above menus. If it is not visible, the Risk module or individual user access may not yet be configured by your Projectmates Site Administrator.
Risk Management Configuration and Administration #
For Projectmates Site Administrators, a Risk Management Configuration Guide is available that provides information to set up and configure the Risk Management module for your organization’s Projectmates portal. Please feel free to reach out to your Projectmates Customer Relationship Manager for a copy or if you need any more information.
Risk Dashboard #
The Risk Dashboard contains a collection of widgets that display risk metrics in both predefined and/or customizable charts. These visualizations assist users and decision-makers to view risk information clearly, analyze data accurately, and take action effectively.
Personal and Global Dashboards #
All users with Risk viewing rights can see the Risk Dashboard area and will have access to a Personal and the Global Dashboard.
Personal Risk Dashboard #
Your Personal Dashboard is unique to your user account and can be set up how you prefer without it affecting any other user’s view.
- Select Risk Management > Risk Dashboard
- By default, you will be taken to your Personal Dashboard.
Global Risk Dashboard #
The Global Dashboard contains selected widgets and/or charts in a standardized view that will appear identical to all relevant users. To view this:
- Select Risk Management > Risk Dashboard
- Toggle the Global Risk Dashboard button in the top right corner.
Note: Non-Admin Risk users will not have the ability to edit the Global Dashboard, but Admin Risk users can edit it if required. However, it is important to consider that edits by any Administrator will change the Global Dashboard view for all other users with access to this area, and therefore it should be done with due care and in consultation with the relevant leadership team.
Editing Risk Widgets #
Standardized risk widgets have been preconfigured for your use; and can be added, moved or deleted in your dashboard(s) as needed.
Add Risk Widget(s) #
- Navigate to the Dashboard you intend to edit (typically the Personal Dashboard).
- Click Edit.
- Click + Widget.
- Select the relevant widget(s) from the available list that you want to add to the Dashboard.
- Once satisfied with the widget(s) added, click Save.
Move Risk Widget(s) #
- Navigate to the Dashboard you intend to edit (typically the Personal Dashboard).
- Click Edit.
- In the top left-hand corner of a particular widget, you can long press on the 6-dot icon to drag and drop the widget to another position. This can be repeated for as many items as required.
4. Once completed, remember to click Save to preserve your selected layout.
Note: Widgets that are removed from a Dashboard are not permanently deleted. They can be easily accessed at any time from the + Widget button.
Remove Risk Widget(s) #
- Navigate to the Dashboard you intend to edit (typically the Personal Dashboard).
- Click Edit.
3. In the top right-hand corner of a particular widget, you can select the Bin icon to remove a widget(s) from the Dashboard. Select Yes to confirm each time.
4. Once completed, remember to click Save to preserve your new Dashboard layout.
Note: Widgets that are removed from a Dashboard are not permanently deleted. They can be easily accessed at any time from the + Widget button.
Editing Risk Charts #
In addition to standardized widgets, Risk Charts can be added to a Risk Dashboard to provide meaningful risk information, metrics or insights for tracking and managing your organization’s risks.
Create and Edit Chart(s) #
This area works similar to the Report Dashboard in that charts can be created based on ad hoc reports that already exist. Only “Risk Register” and “Risk Tasks” ad hoc reports can be used in Risk Dashboards.
- To make any changes to or to customize your dashboard, click Edit.
2. To add a new chart to the dashboard, click + Chart.
a. Select a Data Source from the available Ad Hoc Report folders.
Note: Reports that cannot be used to display data in chart form will be displayed in grey and cannot be selected. Similar to My Dashboard in ad hoc reports, in order for reports to be available as charts, they should at least have one grouping and one numeric column calculation applied.
b. When you have made your selection, click Next.
c. Select a Chart Type that you prefer to portray your report data in.
Note: There are likely certain chart types that will display data more suitably than others.
d. Select Data Value type. The options could include: Average, Sum or Records Count of any of the qualifying grouping criteria, based on the data from your selected report.
e. Group and Chart Title will be auto filled based on the selected report; however, you may edit these fields if the option is available.
Note: The “Group” may not be able to be changed if the report does not provide relevant alternative grouping data to be presented in the chart.
f. You may want to present a limited number of items in the chart instead of all possible items; if applicable, click Items Count to make a selection.
g. Click Sort Rows By to select the sorting logic.
h. Select size of the chart to be placed on your dashboard.
i. To show labels on the chart, check Show Labels. To show legend under the chart, check Show Legend.
j. When satisfied with initial selections, click Apply to add this chart to the dashboard.
3.Evaluate if the chart displays the required information in the desired format. If not, the chart can be edited further by navigating back to the Edit screen.
4. To change the position of charts on your personal dashboard, click on the set of dots on left of the chart name and drag the chart to where you want to place it.
5. Click Save.
Risk Register and Workflows #
The Risk Register is the central hub where all active and inactive risks are tracked in Projectmates on a program level. This tool enables identified risks to be categorized, evaluated, assigned, actioned, monitored and closed by relevant users – in an easy-to-understand layout and with an intuitive workflow.
View Risks in the Register #
- From the Program Management section in the left-side navigation panel, navigate to Project > Risk Management > Risk Register.
- Search the Risk Register by using the filters and/or sorting tools available from the column headers. For more information, please view the following section: Counters, Filtering and Sorting.
- Select the particular risk from the Register.
- Notice the Risk Identification details displayed in the top section of the Risk.
Note: To navigate to the specific module/item where the related Risk stems from in Projectmates, select the View item link on the General tab to be taken there in a new browser tab.
5. View Risk information in the relevant tab(s).
Note: Greyed out tabs within a Risk will not be accessible until all mandatory information in previous tabs have been entered and saved first.
Counters, Filtering and Sorting #
Risk Counters above the register indicate the number of All, Identified, Critical and Overdue Risks that are tracked in the system. Click on any counter to filter only those relevant risks in the Risk Register. Click Hide Counts/Show Counts to provide more or less screen area to review risks in.
Filters can be applied to any column that has a funnel icon – used for searching or reviewing categorized information together.
- Click the appropriate funnel icon.
2. Type in the relevant description, or select it from the dropdown list.
- A single filter will be applied for that particular column, and can be repeated in multiple columns if needed. (For every filter that has been applied, a blue dot will display next to the relevant funnel/s.)
To remove a filter, click on the funnel and item description, then remove with the x icon.
Sorting can also be applied to most columns, including those that have a funnel icon. Simply click on a column header to sort the current register displayed in an ascending or descending order.
View Active and Inactive Risks #
The Risk Register can be filtered to display either Active Risks, or Inactive Risks.
- Click on the Filter button to toggle between the 2 options:
a. Select the Active Risk filter to display only the current “active” or “open” risks that have not been inactivated / closed.
b. Conversely, select the Inactive Risk filter to display only current “inactivated” or “closed” risks that have been finalized.
Note: Any risks that have been deleted will not be visible in any of these areas, and will not be available to view here for later reference.
Risk Details and Workflow #
Identify a Risk #
Risks can be identified in one of two ways:
- Automatically as per Risk Rules that are configured by site administrators based on predefined parameters; or
- Manually by users with appropriate rights within relevant project modules
Users with Risk Manage/Admin rights can identify new risks manually in the supported modules they have access to.
Note: The criteria used to identify risks may vary between organizations and may include objective factors (factual data, reports, events etc.) and subjective factors (frontline observations, assessments etc.).
a. In most modules, a risk can be identified from within an item. This applies to the following modules: Contracts, PCO’s, Change Orders, Invoices, Bid Packages, CD’s, PR’s, Meeting Minutes, Action Lists, RFI’s, Submittals, Daily Field Reports, Site Visit Reports, ASI, Asset Planning and Custom Apps.
i. Navigate to the module that you need to create the risk from.
ii. From the main module log page, click into an individual item.
iii. Select More > Identify Risk.
b. Alternatively, a risk related to the Budget or Schedule module can be identified from the module’s main log page:
i. Navigate to the Budget or Schedule module from where you need to create the risk from.
ii. From the main module log page, Select More > Identify Risk.
c. Alternatively, in the Documents module, a risk can be identified related to a menu, folder or subfolder:
Note: Only one risk can be identified per folder at any given time.
i. Click into the Document Group, down to the selected folder.
ii. Select Identify Risk from the top of the page.
2. Once the “Identify Risk” has been selected from any module, the particular risk is immediately identified. The Risk’s General tab will open, and relevant information needs to be completed as outlined next in the Assess a Risk section.
Note: It is advisable to complete Assessment information when all mandatory* data fields are known (indicated by red asterixis). However, if all required fields are not known yet, it can also be entered later. In this event, even if the risk is closed, it would still be actively tracked in the Risk Register.
Assess a Risk #
Assess a Manually-Identified Risk #
Once a risk has been manually identified (per previous step Manually Identify a Risk) the risk needs to be assessed to ensure accurate information and owner assignment.
Note: Depending on your organization’s SOP, this may either be completed immediately by the user that originally identified the risk, or could be performed by the designated user/team later.
Risk categorization, evaluation and assignment are detailed in the General Tab. When a risk is manually identified, all mandatory* fields need to be updated for the page to be saved.
- From the Risk Register, select a risk.
- Ensure you are on the General
- Complete the Risk Assessment fields (minimum mandatory fields shown with RED DOTS):
3.1 Risk Status: Indicates where a risk is in its lifecycle, informing users of its current state and/or next steps in the workflow (e.g. Identified, Under Review, Ongoing, Closed etc.).
3.2 Risk Category: The appropriate category of the risk, grouping it by the primary domain/area of concern it relates to.
3.3 Cost Impact: (Optional field) An estimated quantitative evaluation of what impact this risk may have on project cost, if any. E.g. 10,000.00 (USD).
3.4 Schedule Impact: (Optional field) An estimated quantitative evaluation of what impact this risk may have on project schedule, if any. E.g. 15 (Days).
3.5 Impact Description: More detailed information about the risk and the potential consequences that may occur if no response/controls are implemented.
3.6 Impact Score: This score represents the severity of consequences if a risk event occurs without implemented response/controls.
Note: The scale is from 0.0 up to 5.0, where 5 indicates the most severe possible project impact – as defined by the organization. This score factors into the total Risk Score as: Risk Impact x Risk Probability = Risk Score.
3.7 Probability Score: This score typically represents how likely it is that the risk event/consequences will occur without intervention, within the project timeline.
Note: The scale is from 0.0 up to 5.0, where for e.g.:
- A score of 5 may indicate certainty that it will happen, or have happened,
- A score around 3 may indicate credible moderate risk likelihood,
- A score around 1 may indicate a very low likelihood, and
- A score < 1 may indicate strong uncertainty in likelihood, and/or may merit adding the risk to the watchlist.
This score factors into the total Risk Score as: Risk Impact x Risk Probability = Risk Score.
3.8 Owner: A Risk Owner is assigned to take responsibility for the risk, including the risk response, monitoring and final assessment over its lifecycle.
4. Click Save.
Assess an Auto-Identified Risk #
Once a risk has been automatically identified (by a Risk Rule), the risk needs to be assessed to ensure accurate information and designation.
Note: Risk categorization, evaluation and assignment are detailed in the General Tab. When a Risk is automatically identified, multiple fields in the General tab will already be auto assigned based on predefined defaults, but these still need to be verified for accuracy.
- From the Risk Register, click into the risk.
- Ensure you are on the General
- Complete the Risk Assessment fields (minimum mandatory fields shown with RED DOTS):
3.1. Impact Description (no. 5 in screenshot): More detailed information about the risk and the potential consequences that may occur if no response/controls are implemented.
3.2. Owner (no. 8 in screenshot): A Risk Owner is assigned to take responsibility for the risk, including the risk response, monitoring and final assessment over its lifecycle.
4. The fields (shown with BLACK MARKERS) Risk Status (1), Category (2), Impact Score (6) and Probability Score (7) will already be prepopulated with data from the identifying Risk Rule. While this may be helpful, this is default data that still needs to be verified for accuracy as risks may be different from one context to another.
5. Optional Fields (starred): Cost Impact (3) and Schedule Impact (4) fields are not required, but may be beneficial to complete if applicable.
Note: For more information on all fields, refer to Assess a Risk section.
6. Click Save.
Risk Response & Management #
The Risk Response tab tracks the response strategy of a particular risk and the related details. It is defined once the risk owner/leadership team decides on the appropriate course of action for managing a risk. If possible, this area will typically be updated soon after identification; however, it can be updated later or even on a continuous basis depending on the nature of the risk.
- From the Risk Register, click into the Risk.
- Ensure you are on the Risk Response
3. Complete the Risk Response fields (minimum mandatory fields shown with RED DOTS):
3.1 Risk Response: The current Risk Response strategy applicable to the risk as decided by the Risk Owner and/or Leadership Team. This could be changed over its lifecycle if applicable.
3.2 Response Requested By: The date on which the risk should be effectively managed and closed out by, or by when additional evaluation or action is required.
Optional fields (shown with RED STARS):
3.3 Send Reminder: The number of days before or after the Response Due Date that an email reminder needs to be sent out to the Risk Owner. Leaving it at zero will not trigger a reminder email.
3.4 Additional Notes: This field can be used to track important Risk Response information over time, for e.g. if the Risk profile, evaluation or characteristics change. It can also be used to memorialize mitigating actions taken over a period that may be important for later review and analysis.
3.5 Attachments: If applicable, document(s) with relevant information may be added to a risk for easy reference by users with access to this area.
4. Click Save.
Assign Tasks #
View all tasks linked to a Risk #
- From the Risk Register, click into the risk.
- Navigate to the Tasks tab.
Note: All tasks related to the risk will be visible in this area, irrespective of its status and who it is assigned to.
Create or Edit a Task #
Task(s) can be created to set and manage action(s) related to the Risk Response strategy followed for a particular risk:
- Within a risk, navigate to the Tasks tab.
2. Click + Task.
3. Task Details screen opens.
Complete the Task Details as follows (minimum mandatory fields shown with RED DOTS):
3.1 Enter Description to outline expected action related to the Risk and/or Response that need to be taken (Mandatory field)
3.2 Assign Responsibility of the Task to a user or a role that is expected to complete it.
3.3 A reminder notification to the responsible party can be set in the Send Reminder field if required. The email can be triggered to be sent a certain number of day(s) before or after the Due Date if required. Leaving it at zero will not trigger a reminder email.
3.4 Specify the Due Date that the task should be completed by (Mandatory Field).
3.5 If applicable, Attachment(s) with relevant information may be added to a Task for easy reference
4. Click Save.
Edit any of the above fields in a Task (if user has access rights):
- Navigate to the Tasks
- Select the required task.
- Change the required field(s).
- Click Save.
Complete a Task #
- Within a Risk, navigate to the Tasks
- Click Yes/No in the Completed column.
Alternatively; a Task can be completed from the My Tasks area accessible in your personal Tasks list (specified in My Tasks section).
Note: The Completed status can be changed later if needed, or reset by clicking the Reset icon.
Enable or Disable a Task #
Task(s) can be disabled if it is no longer applicable or required. Similarly, it can be enabled if it becomes relevant again.
- Select one or multiple checkbox(es) next to the applicable task(s).
- Select Disable or Enable as required from the options bar above the Task List.
Final Assessment – Close a Risk #
If a risk is no longer active, it can be inactivated e.g. when it has been mitigated, is not applicable, no longer needs tracking, etc. This removes the particular risk from the Active Risks selection in the Risk Register, and moves it to the Inactive Risks area (as specified in Viewing Active & Inactive Risks
Note: The information in this section is used to determine if the implemented Risk Response Strategy and controls were effective, track detailed attributes and/or to benchmark indicators in order to better prepare & implement Risk Management in the future.
Inactivate a Risk (Close/Finalize) #
A risk can be Inactivated in the Final Assessment tab. The term “inactivate” is often used interchangeably with the terms to “close” or “finalize.”
- Within a Risk, navigate to the Final Assessment tab.
2. Important Note: The Final Impact Score and Final Probability Score, as well as the Cost Impact and Schedule impact indicated in this tab are separate and different from the values in the General tab. These assessed values typically reflect the risk’s actual outcomes, whether the risk event happened or not.
Complete the Final Assessment fields (minimum mandatory fields shown with RED DOTS):
2.1. Final Cost Impact: The quantitative evaluation of what actual impact this risk had on the project cost, if it had any e.g. 12,000.00 (USD). However, if the risk event did not materialize, this may be zero.
2.2. Final Schedule Impact: The quantitative evaluation of what actual impact this risk had on project schedule, if it had any e.g. 15 (days). However, if the risk event did not materialize, this may be zero.
2.3. Final Impact Score: This score represents the severity of all consequences that the Risk event actually had on a project, if any at all.
Note: The score range is from 0.0 up to 5.0, where 5 indicates the most severe possible impact took place – as defined by the organization. This score factors into the total Risk Score as: Final Risk Impact x Final Risk Probability = Final Risk Score.
2.4. Final Probability Score: This score typically represents the realized outcome of the risk at inactivation/close. The key importance being if the risk event occurred, or not. An example of how the scale can be interpreted is for e.g.:
0 = Did not occur; controls decisively prevented occurrence (high confidence),
1 = Did not occur; controls materially reduced likelihood (moderate confidence),
2 = Did not occur; controls likely helped (low confidence),
3 = Did not occur; no evidence controls had any influence,
4 = Occurred; controls did materially reduce likelihood,
5 = Occurred; controls did not have any influence/unknown.
Alternatively, 0 could simply indicate the risk event didn’t occur, and 5 indicates that it did.
Note: This score factors into the total Risk Score as: Final Risk Impact x Final Risk Probability = Final Risk Score.
2.5. Final Impact Description: Provide summary details about the particular risk, its status and/or the actual project impact(s) that had occurred/was mitigated as a result.
2.6. Attachments: (Optional field) If applicable, supporting document(s) with relevant information on the risk, its status and/or the impact(s) that did/didn’t occur as a result.
3. Click Save.
4. Once saved, you can Finalize and Close the Risk.
5. Select Yes to confirm that you intend to Inactivate the Risk (removing it from the Active Risk Register).
Reactivate a Risk (Re-open) #
A risk that was previously deactivated (closed/finalized), can be reactivated if the same risk becomes relevant again.
- Navigate to the Inactive Risks view in the Risk Register.
2. Search for and select the particular risk.
3. Navigate to the Final Assessment tab.
4. Click on Reactivate Risk.
5. When prompted, confirm the action by clicking Yes.
My (Risk) Tasks #
The My Tasks page is a Risk Management tool used to easily review and take action on work that has been assigned to you as part of risk response strategy.
View My Tasks #
- From the Program Management section in the left-side navigation panel, select
- Select Risk Management to expand the areas available within the tool.
- Select My Tasks.
4. You will see all incomplete risk tasks assigned to you. Once a task is marked complete, it will be removed from your My Tasks
5. You can action task(s) from this Task page, or click into a Task to see relevant information.
Note: If you want to see the specific module/item where the related Risk stems from in Projectmates, select the View item link in the task.
- If you want to see the specific risk that this task is linked to, select the Link to the Risk.
- Additionally, to see all completed and incomplete tasks related to a particular risk, navigate to the Risk’s Tasks Please find more info here: View all tasks linked to a Risk
View Other’s Tasks #
- From the Program Management section in the left-side navigation panel, navigate to Project > Risk Management > My Tasks.
2. Click into the “Search Risk Tasks by Team Member” field at the top of the page.
3. Start typing the relevant User First Name, User Last Name or Company Name you are searching for in the field to provide available options, and select.
4. Once selected, only the respective user’s open tasks will appear in this area. (The user’s details will appear at the top of the page.)
Note: While another user’s name is selected, it will remain selected even when clicking out of the My Tasks area. To see your own tasks again, this selected name needs to be manually removed by clicking on the x icon.
5. Optionally, a Date Range can also be specified to only display tasks within a certain timeframe if needed.
Complete a Task #
- From the Program Management section in the left-side navigation panel, navigate to Project > Risk Management > My Tasks.
2. Click on Yes or No in the “Completed” column as needed.
- Tasks marked as Completed will be removed from your Task list. However, it will still be visible from within the Risk > Tasks tab.
- Tasks marked as No (not completed) will remain on your Task list.
- Tasks can also be reset by clicking on the Reset icon if needed.
Note: Tasks can also be viewed/edited/completed from within each of the Risk’s Tasks tab; however, this My Tasks menu may be a more efficient area to work in across multiple risks at the same time.
