Creating Risk Thresholds
You create risk thresholds, which you then use as inputs when creating a risk scoring matrix. When creating risk thresholds, you must define the probability threshold, cost impact threshold, schedule impact threshold, and tolerance threshold. You can also define as many user-defined impacts as necessary.
To create risk thresholds:
- Click the
Projects menu and select Enterprise Project Data, or click the Administer menu and select Enterprise Data. - Risks and click Risk Thresholds.
- Repeat the following for each threshold you want to create:
- On the Risk Thresholds page:
- Click
Add (Insert). - In the Name field, double-click and type a threshold name.
- In the Type field, double-click and select a type of risk from the list.
- In the Levels field, double-click and select a level number from the list.
- In the Levels detail window, a default value is assigned for the Code, Name, and Range values. You can use the default values provided, or double-click any field to customize that field.
You can define a color for each threshold level to visually represent the values when working the risk register on the Project Risks page. However, you should define colors for the tolerance threshold. The colors for the tolerance threshold are used to color the Score field on the risk register on the Projects Risks page. This enables you to easily identify where in the risk scoring matrix this risk falls in terms of severity.
- On the Risk Thresholds page, click
Save (Ctrl+S).
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