Overview
The 2022x FD01 release introduced a new role, Risk Manager (RSK) available on both cloud and on premise, contains the Risk Management application (widget), which allows business users to describe risks, capture risk details, assign risks to users, and track the mitigation process, in a simple way.
Creating Risks
As of R2022x FD01, you can create risks only in a context of a project:
- Create risk in a context of Project Manager (DPM role) project
- Create risk in a context of Project Planner (XPP-OC role) project
For the later, the following conditions should be met:
- Project should be of type ‘Enterprise Project’
- You should have either Project Manager (DPM) or Risk Manager (RSK) role assigned to you.
Main capabilities of the “Risk Manager” role:
- Configure the Risk Matrix
- Create new risks
- Working with risk context
- Add Affected Items to risk
- Attach documents to risk
- Assign members to risk
- Classify the risk
- Manage Risk Rating and view Risk Trend
- Manage Risk Action Plan
- Filter risks
- Monitor risks using Summary View
Working Process:
Identify
The process starts by Identifying possible & potential risks:
- Create a risk & set the risk context
- Add more risk information such as affected items and attachments documents (optional)
- Classify the risk in library classes (optional)
- Assign the risk to other users, so they can start working on the risk
Assess
Then, the project team starts to analyze and assess the risks and choose those which are the most likely to occur. They categorize and prioritize risks for assessment and resolution:
- Define the risk RPN (Risk Priority Number).
In ENOVIA, the RPN is also called Risk Rating or Risk Factor, which is a combination of Probability of Occurrence and the Impact of the Risk. A higher RPN number represents a more critical risk.
Review the Risk Trend chart, shows the trend over time whenever Risk Rating values change.
As risk management is a continuous process. The risk owner can set different values of the risk rating over time.
Mitigate / Control
At this point, the project team is ready to develop responses to the risk and assess remedies to manage the risk, by developing a plan and put it into action.
The best action would be to prevent the risk from occurring, but sometimes the action is to mitigate the risk or simply control it.
- Define and track the Risk Action Plan
Here we define what is the action to be taken to mitigate the risk as follows:
- with which task or project we plan to resolve the risk
- how we measure the success of this plan.
Monitor
Now you can use the Summary view to monitor risks based on color charts and have a quick glance of the key indicators:
The following video illustrates the ‘Risk Manager’ role in more details:
