In This Article
Overview
Risk Assessment and Management in WiredUp aims to identify, evaluate, and mitigate potential risks that could impact a project's success. This proactive approach helps in resource allocation, decision-making, and maintaining project timelines and budgets, ultimately increasing the likelihood of achieving project goals and delivering value to stakeholders.
Risk Assessment Configuration
1. On the ribbon tab, click on the Administration button at the top right part of the ribbon.
2. Once the Administration screen is opened, navigate to the Risk group.
2. The following configurations can be made:
A. Probability/Likelihood:
- Specify the different probabilities that can be assigned to a risk, ie the likelihood of the risk/hazard, the description of the probability, position and the colour associated with the probability
- The ability to reorder can be done by using the position column
- You can configure the color of the Probability item by editing the colors on the Color column
- You can also add a probability occurrence by clicking the +Add button
- A probability occurrence can also be deleted by clicking on the bin icon
B. Consequences:
- Specify the different consequences (levels of impact) that can be assigned to a risk/hazard such as type of consequence, description, position and the colour associated with the consequence.
- The ability to reorder can be done by using the position column.
- You can configure the color of the Consequence item by editing the colors on the Color column
- You can also add a consequence impact by clicking the +Add button.
- A consequence impact can also be deleted by clicking on the bin icon
C. Severities:
- Specify the different possible severities in the system as well as a description if applicable. That is the amount of damage or harm a risk/hazard could cause.
- The ability to reorder can be done by using the position column.
- You can configure the color of the Severities item by editing the colors on the Color column
- You can also add a consequence impact by clicking the +Add button.
- A consequence impact can also be deleted by clicking on the bin icon
D. Risk Type:
- Specify the risk types name as well as the description for each risk selected
- You can add an additional risk type by clicking the +Add button.
- You can delete a risk type by clicking the 'bin' icon on the risk type you would like to remove.