Description
Risk objects represent potential uncertain events or conditions that, if they occur, have a positive or negative effect on one or more project objectives. In systems engineering, risks are typically characterized by their probability of occurrence and the impact they would have. Managing risks involves identifying, analyzing, and planning responses to these uncertainties to minimize negative outcomes and maximize opportunities. Risks are quantified using three key metrics: probability (likelihood of occurrence), impact (severity of consequences), and detectability (how easily the risk can be identified before it occurs). The system automatically calculates the criticality (probability × impact) which shows up as resolved value element.If the risk has owned sub-risks as children, then the parent risk will inherit the calculated values from its children based on the combinator logic and is not editable.
You can edit the risk categories of the project from the Risk Categories tab in the project settings.
View Types
| View | Description |
|---|---|
| Properties | Edit the object’s properties, attributes, and metadata. |
| Risk Analysis | Analyze risks with probability and impact matrices. |
| Table | Display the object and its children in a tabular format. |
| Tree | View the hierarchical structure of the object. |
| Relationships | Explore the network of connections to other objects. |
| History | Track changes and revisions to the object. |
Properties Fields
Name of the object.
Short name of the object.
Description of the object.
The likelihood that the risk event will occur, typically expressed as a value between 0 and 1 (or 0% to 100%). This metric helps quantify uncertainty and is used to calculate expected loss.
The magnitude of the effect if the risk occurs, representing the severity of consequences to project objectives. Combined with probability, this determines the overall risk exposure.
A measure of how easily the risk can be identified or detected before it materializes. Lower detectability increases the effective risk priority, as risks that are harder to detect pose greater danger.
Determines how sub-risk values are aggregated to calculate the parent risk’s metrics. Options:
OR: Parent risk occurs if any sub-risk occurs (uses maximum values)AND: Parent risk occurs only if all sub-risks occur (uses combined probabilities)
A list of all Relationships this object has with other model objects.Read more about Relationships