Creating a Risk


Cost items can be either planned occurrences (100% probable) or possible occurrences (less than 100% probable). The latter are known as risks. Each risk has an associated risk assessment which expresses the level of severity that the risk represents to you. A risk assessment requires both an impact estimate and a probability estimate.


To create a risk, click on the Possible occurrence option in the Risk frame of the Cost Data Entry form, then click on the Risk probability button to enter a probability. Costs are entered in the normal way. If you have defined any non-cost risk impacts, the Risk page of this form will become available.

Cost Data Entry Front Page Risk

Overall risk impact level will be shown, based on your costs and any non-cost impacts, provided that the relevant risk impact scales have been defined.