Managing Risks
ELEGANTLY
Every major project has risks, and Dash360 allows you to enter and track those risks for the life of your project.
In our Risk Register area, enter risks for your project. Risks are assigned a risk ID, title and a risk trigger date for starters. Then, you can also associate impacted WBS and Work Packages. Then, access for each risk it’s cost and schedule impact along with the probability of it occurring.
All of your risk are then buckets into our Risk Register Heatmap grids by Cost, Schedule and Risk Ranking. The ranges are completely configurable by your admin, of course.
Then, use our Monte Carlo module to see your risk threat simulated over a certain number of random iterations.
Finally, keep track of your cost and schedule risk burndown as your project moves through it’s lifecycle. It’s all here ready for you!
Dash360 Risk Register
At a Glance
Risk Register
The Dash360 Risk Register allows you and your team to be able to track every risk on your project.
The Risk Register allows you to enter in a risk title and enter a trigger date for when your risk will likely hit. You then select any impacted WBS and Work Packages and assign an owner.
Enter in your cost and schedule impact and the probability % of the risk occurring, and you are all set.
Our risk register also tracks every change ever made to your risk. Just click on the History icon (to the right of the trash can) to see every change ever made by your team to a risk.
Risk Register Heatmaps
Next, we have the Risk Register Heatmaps. This section allows you to see all of your risks broken down by Cost, Schedule and Risk Ranking.
Then, each risk is scored and placed on the grid based on their likelihood of occurring.
All of these ranges are 100% configurable by you in our Admin area.
These heatmaps are perfect for drilling in on the risks that are mission critical to your project – the ones in red. Then, during every risk review meeting, you and you team can insure these risks are getting the proper attention.
Monte Carlo Simulations
Using our Monte Carlo module, you can simulate the total cost and likelihood that your risks will have on your project.
Just enter the number of simulation iterations that you’d like to use and click the Run Monte Carlo Simulation button. In seconds, the system will return a Monte Carlo simulation.
From here, you can choose to save the simulation. Just enter in a Simulation Title and click the Save Simulation button. This simulation will now be available to you and your team in the future.
Risk Burndown Charts
Our Risk Burndown Charts allow you to see your risks burndown over the life of your project.
There are two burndown charts: one for cost and one for schedule.
By default, the risk burndown charts show all data for your project. However, you can use one of the seven filters at the top of the page to view custom burndown charts just for a particular filter.
With these burndown charts, you should be able to easily track risks no matter phase of the lifecycle your project is in.
Phew! Is that All?
No. Not even close. But, we’ll let you rest for now.
We got to get back to writing more Scheduling features for all of our hard working project managers and their teams.
But don’t wait too long. There are still 4 more sections to check out!
Be sure to check out the Cost Estimating, Earned Value, Scheduling and Reports & Analytics sections to learn even more.
Or, save yourself some time and Request a Demo from one of our team!
We’d love to hear from y’all!
