every Project has Risks. And every Project Manager what to handle them. With Microsoft Project for the Web, via PowerApps it can be done in two ways. One is useless, and another is great.
Let me create a Project:
Now I will jump to PowerApps:
and finally I will jump here:
Now, when I choose My Project I will get:
I choose Risk and I will get:
When I try to create a risk I will get:
As you can see, here I can only put a Risk name and a Risk owner. And that is why I think that this solution is useless.
BUT! If I install Project Accelerator which can be found here (GitHub – OfficeDev/Project-Accelerator: An Accelerator solution for Project for the web):
I will have much more! Let me show you!
As you can see on the left side of the Screen that with Project accelerator I have more options (Program, for example), and I have much more information (Overall Health, Issue Health, and so on, which I will explain in my further Blog posts).
Now, let’s focus on Risks. I will choose My Project:
As you can see, Risks Tab is here, by default. I will add a Risk:
I put a Risk name and I can choose which status Risk has:
(1) Proposed – the Risk exited and it doesn’t happen yet
(2) Active – the Risk is active, e.g. it happened and we are working on it
(3) Closed – the Risk is Closed, e.g. it didn’t happen or it was fixed
(4) On Hold – for some reason the Risk is on hold
Now I will put the Probability and Impact for the Risk, and other useful information:
So, I put Probability, Impact, Cost, Description, Mitigation and Contingency Plan for this Risk. Now I will going to save this Risk and I will get:
Exposure and Cost Exposure are calculated. Now, let me explain how.
Probability is 3, and this means 3% (percent). So if a cost of risk (if it happens) is 10.000, Cost exposure is 3% of 10.000 = 300! (kn means Croatian kunas – currency in my Country). Exposure is 3% * 5 = 0,03 * 5 = 0,15!
And finally, reminder. Probability is likelihood that risk is going to happen. Impact means: “If it happen – how hard is going to hit me?” So 1 can be – very low, 2 can be – low, 3 can be – medium, 4 can be – high, and 5 can be – critical (of, course this is just an example).
Anyway, with Project accelerator, Project Manager, and the rest of the team can do much more! Risk management is just one example. Others are going to be explained in my future Posts, so stay tuned!