Add a Risk Threshold Template

Video

Add risk thresholds to define the risk scoring criteria to use for a risk matrix. Risk thresholds are added at the workspace level as templates, making them available to use in child workspaces, projects, and programs. You should add risk threshold templates at a level in your workspace hierarchy where they are available to all workspaces, projects, and programs that will need them. The risk threshold template data is copied to a project or program when a matrix is assigned. You can modify the risk threshold at the project or program level without affecting the template or other projects or programs to which the template is assigned.

To add a risk threshold template:

  1. In the object selector, select Workspace, select View Workspaces List, and then select a workspace name.
  2. From the Main Menu, select Summary & Settings.
  3. On the Summary & Settings page, select Dictionaries, and then select Risk Threshold Templates.
  4. In the table, select Add.
  5. In the new row, complete the following fields:
    • Name: Enter a name for the risk threshold.
    • Type: Select a threshold type:
      • Probability: Measures the likelihood of a risk occurring.
      • Schedule: Measures the amount of time the risk will increase or decrease the project or program schedule, defined as a duration value.
      • Cost: Measures the cost impact if a risk occurs, defined as a monetary value.
      • User: Measures the impact of the risk in terms of a user-defined impact.
      • Relative Schedule: Measures the amount of time the risk will increase or decrease the project schedule, defined as a percentage of the project's planned duration.
      • Relative Cost: Measures the cost impact if a risk occurs, defined as a percentage of the project's planned cost.

        Notes:

        • Relative threshold values used by project risk matrixes are unable to be recalculated by program risk matrixes. At the program level, program probability and impact fields for a project risk using relative thresholds will appear blank.
        • You cannot assign a matrix with relative thresholds to a program.
        • Relative thresholds cannot be used in quantitative risk analysis.
    • Number of Levels: Select a number of threshold levels.
  6. In the Levels detail window, configure each level defined for the threshold:
    • Name: Enter a name for the level.
    • Code: Enter a short name or abbreviation for the level.
    • Low: Enter a minimum value for the threshold range.
    • High: Enter a maximum value for the threshold range.
    • (Optional) Color: Select a color for the threshold level.
  7. Select Save.

This setting is used in the following apps:

Risk