When planning an event or project, there will always be uncertainties. These are the possible issues with the plans that you identify. Out of these uncertainties you get threats (risks) to your organization, event, and opportunities.
The risk itself is not the uncertainty, but rather the impact of the uncertainty. For example, Coronavirus is an uncertainty; the risk is the cancellation of an event because of a lockdown or national ban. As a result, you should categorize risks by Impact Type (reputational, financial, strategic, and so on) because each possible impact should be a separate risk. However, if you create one risk for the whole uncertainty, you can select multiple impact types.
Impact Types are added when you create a Risk and monitored in the Risk Details Page. They will form part of your strategy for dealing with your risk, issue or opportunity and inform the actions or jobs you create.
In this article:
Add an Impact Type
There are six default Impact Types: Security, Reputational, Planning, Operational, Legal, and Financial. These can be updated or deleted (see below for instructions).
To add a new impact type:
- In the lower-left corner, click Profile and select Settings.
- In the Settings menu, select Risk > Impact Type Matrix.
- Click Add Impact Type. The Add Impact Type modal opens.
- Click the pencil by New Impact Type to update the name of the new type.
- Add descriptions for the impact at each level: Minor, Moderate, Major, Significant, Extreme.
- Click Save.
Edit an Impact Type
To edit an impact type:
- In the lower-left corner, click Profile and select Settings.
- In the Settings menu, select Risk > Impact Type Matrix.
- Click the impact type to be updated. The Edit Impact Type modal opens.
- Update all information.
- Click Save.
Delete an Impact Type
- In the lower-left corner, click Profile and select Settings.
- In the Settings menu, select Risk > Impact Type Matrix.
- Click the impact type to be deleted. The Edit Impact Type modal opens.
- Click Delete.