Risk Management

Risks can have a significant impact on the course of a project. Structured risk management helps you identify potential risks at an early stage, assess them, and plan appropriate countermeasures.

In smenso, you can record risks as tasks and assess them using Flavors. This allows risks to be managed in a structured way and evaluated both within a project and across multiple projects.

Record risks as tasks

Create a separate task for each identified risk. In the title, you can describe the risk as specifically as possible. Additional information about the risk can, for example, be added to the task description.

Using Flavors, you can add additional information for assessing the risk. For a simple risk assessment, you can use, for example:

• Risiko: Eintritt – to assess the probability of occurrence
• Risiko: Auswirkung – to assess the potential impact

For both Flavors, a scale from 1 to 5 can be used, for example. This allows risks to be assessed consistently and later filtered and evaluated in a targeted manner.

Plan countermeasures

You can record appropriate countermeasures directly as subtasks of the respective risk. This keeps the risk and the associated measures directly linked.

Assign the tasks or countermeasures to the responsible people and add dates where required. This turns the risk assessment into concrete action planning.

Compare risks across projects

Risk Flavors can also be used in the project master data. This allows selected risk information from multiple projects to be compared directly in the portfolio.

For example, Risiko: Eintritt, Risiko: Auswirkung, and Risiko: Kosten can be displayed as columns. This gives you a quick overview of the risk assessment of individual projects.

Visualize risks in the Bubble Chart

In the portfolio analysis, you can also visualize risks using a Bubble Chart. The risk Flavors can be used as dimensions of the chart.

One possible configuration is:

• X-axis: Risiko: Eintritt
• Y-axis: Risiko: Auswirkung
• Size: Risiko: Kosten

The position of a bubble therefore represents the combination of probability of occurrence and impact. The bubble size can additionally represent the amount of the recorded risk costs. This makes it easy to compare projects with different risk profiles.

Best Practice

For clear and structured risk management, it is recommended to record risks according to a consistent scheme and review them regularly.

• Record identified risks as specifically as possible as separate tasks.
• Assess probability of occurrence and impact using consistent scales.
• Plan appropriate countermeasures as subtasks and assign responsibilities.
• Review existing risk assessments regularly and adjust them where necessary.
• Use the portfolio and analysis to compare risks across multiple projects and maintain a cross-project overview.