Risk & Reward

Hey everybody!

just posting to let you know my first template upload is available on Projectmanagement.com. It is located here and it is a tool intended for us to conceive a risk register and structure a probability scale, an impact scale and an overall qualitative mapping.

Begin by stablishing your probability scale. Very straightforward, and you can have as low as 5 and as much as 7 levels of probability to be assigned.

Moving on to impact, I added some room for using different scales, so you can have a schedule dimension with four leves (say very low, low, medium and high) and a cost dimension with three (low, medium and high) and you can work these things together in the spreadsheet.

In a severity sheet, you can see the probability x impact severities resultiing from the several dimensions of impact you used on the impact scale. As I mentioned on my article on the risk ruler, I am using an additive way for obtaining the scores, i.e., I am multiplying the probability of the event by the various impacts on each dimension.

There is a sheet called register, with some columns to fill in the description and assess the probability and impacts, as well as planning for mitigation and its impact on the aforementioned components of the severity. There is also a possibility to plot the results in a graph.

I hope you guys like it, your feedback is most welcome.

And, again, thank you for reading and joining the discussion!