From the 3SL March 2019 Newsletter
Phew!
We made it through the Ides of March without any problems. However, it’s never good news if you leave your project to visions of a ‘Seer’. Whilst it would be nice to be able to have certainty over the outcome of a project, the truth is all we can do is be as prepared as we can and plan for those things we know. We also have to plan for the things that ‘might’ happen.
Risk
The things that we can’t predict for certainty are risks to the project or the business. Using a ‘Risk’ item type in Cradle is one way of recording the thoughts likelihood and severity of a risk. These risks could be cross-referenced to any of your project items. You could then add a ‘Mitigation’ item type and cross reference it to the risk. Add a few categories to hold risk re-evaluation dates and your more or less done. A query showing these linked items gives you a printable risk register.
Risk Register – “Beware the Ides of March” Risk Rule Set
With your choice of category values for the severity and likelihood and your choice of overall result, it is possible to set up a Cradle Ruleset to calculate the ‘result’ for your risk. We suggest you also add a further severity and likelihood column with values you perceive post mitigation in place. This will ensure you always believe the risk has been reduced following the application of your risk plan.
