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Topics: Organizational Project Management, PMO, Risk Management
Risk and Issue Reporting
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I joined a company that has just developed a new project progress report template. There is a section to report on 5 major risks and issues. Both of these then have a RAG status drop down box which you can select the RAG status of with the risk or issue. When are the two Red Green or Amber. In my view, Issues tat have happened and have no action plan implemented are red, those that have occurred and are being managed well and there is a possible resolution are Amber, and those that have been resolved are green.

For Risks, risks with high impact that have no mitigation plan being implemented are Red, those that have medium impact and implementing the mitigation plan are Amber, and those that have been mitigated are Green.

When do you classify these as Green, Amber and Green in your companies or from experience?
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I would infer the RAG status with Risk and Issues correlates with its relative impact. If the issue is resolved, it would be removed from the list. Seemingly the Issue section would change often, while the Risk section would tend to be more static.
Network:3296



In general we've always classified them based on a score, and also added another color (fuscia) for critical risks. I created a small table 5x5, Impact along the Y axis, and probability on the X axis. Impact values are 0.20, 0.40, 0.60, 0.80, 1.00 and Probability values are 0.20, 0.40, 0.60, 0.80, .99. Create in Excel and let the cells be multiples - 0.20 x 0.20 = 0.04 etc. Color values 0.00 - 0.24 Negligale, 0.25 - 0.49 Low, 0.50 - 0.74 - Moderate 0.75 - .99 Severe, 1.00 Critical. Then for each risk/issue, create a column and the team can talk through the % chance of the impact and probability. Third column can be color coded to automatically show the level of risk/issue.
Network:1287



The only thing that work is: project stakeholder management. You have to know your stakeholders to decide about all related to information to publish. And that is critical when you are talking about risks. For example, what you have to publish becasue it will be read for risk adverse stakeholders is not the same when it will be read for risk seeking stakeholders. On the other side when to consider a risk red-yellow-green must be driving by organzational policies applied to project special characteristics. What is a red risk related to scope-time-cost for my organization could not be the same for your organization. That is critical.
Network:672



Sounds pretty obvious that you need some definition's on your new template on exactly what each of the RAG's mean. It is better if this status is calculated for you based on some KPI's in the progress report / PM application. This prevents the last minute 'tweaks' that occur to avoid the spotlight on challenging projects.
Network:1687



Yes, Mike and Liana are right. Your template should have the appropriate definitions, probability etc. You shouldn't be guessing or assuming what the status means. Gina describes this nicely in her article here (http://www.ginaabudi.com/what-does-red-amb...your-projects/) and there is probably some more in depth info here if you search for it.
Network:71134



I second, Mike, Liana and Naomi point. Get the information on the meaning. Like Liana, I use to similar calculated formulas.
I have seen for executive summary the RAG with arrow informing of change from previous report (up, down or stable)
Report on 5 major Risks ans Issues, in my opinion not much green in there.
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For this situation, the ready condition was identified with a venture obligation that was past due. While generally a retiring past due assignment is insufficient to trigger a ready circumstance in PM Central, the present undertaking had been arranged to raise this fright at anything time an errand paper writing service characterize to be on the basic way was postponed. The task being referred to had related successors that were reliant upon its favorable stop, and it should have been tended to promptly.
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When the form was developed the definitions for the RAG status should have been set as others have stated.

From my experience, I've used the following for risks:

Red - Risk is either unmitigated or has a very high probability of occurring
Amber - Risk is mitigated as low as possible but remains as long the potential for it to happen remains
Green - Risk no longer a threat and is removed in future reports
...
1 reply by Jess De Ocampo
Apr 28, 2017 10:58 PM
Jess De Ocampo
...
I agree with Thomas...Pardon me but your risk and issue reporting template must be re-automated to accomodate the necessary changes and enhancements to be more efficient and systematic.
A well designed and automated template should also include tracking changes, automatic calculations, columns for current course of action, mitigation plans, etc. In a snapshot, you have a comprehensive summary.
Network:776



Apr 28, 2017 9:39 AM
Replying to Thomas Kennedy
...
When the form was developed the definitions for the RAG status should have been set as others have stated.

From my experience, I've used the following for risks:

Red - Risk is either unmitigated or has a very high probability of occurring
Amber - Risk is mitigated as low as possible but remains as long the potential for it to happen remains
Green - Risk no longer a threat and is removed in future reports
I agree with Thomas...Pardon me but your risk and issue reporting template must be re-automated to accomodate the necessary changes and enhancements to be more efficient and systematic.
A well designed and automated template should also include tracking changes, automatic calculations, columns for current course of action, mitigation plans, etc. In a snapshot, you have a comprehensive summary.
...
2 replies by Andrew Craig, PMP, PSM and Jess De Ocampo
Apr 29, 2017 6:58 AM
Andrew Craig, PMP, PSM
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Jessica, that sounds like a great template. Is that a template you currently use? Can you provide details of the process around the automation?'
Apr 29, 2017 9:19 AM
Jess De Ocampo
...
We use VBA (Visual Basic for Applications)/macros in MS Excel to automate templates, trackers, reporting tools, logs, etc. for efficiency, accuracy, automatic calculations, etc. VBA is the programming language of Excel and other Office programs. With Excel VBA you can automate tasks in Excel by writing so called macros.
Automation can be done by business/data analysts/IT or any staff who have background in VBA.

You can "customized/tailor-fit" your logs, reporting tools depending on your needs. You can include anything you want in your issue log using VBA.
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