Steps for adding a risk

a$.$ Go to $$Risk$$ on the left menu

b$.$ Click $$Add$$ on the top

c$.$ Populate the following fields:

a$.$ Risk Name $$ a brief name of the risk

b$.$ Risk Description $$ a short description of the risk

c$.$ Category $$ what type or risk is it

d$.$ Status $$ just set to $$Identified$$

e$.$ Likelihood $$ on a scale of $0-5($reference the drop$-$down$),$ what is the likelihood that this

risk will occur.

f$.$ Consequence $-$ on a scale of $0-5($reference the drop$-$down$),$ what is the overall

consequence to the project if this risk occurs

g$.$ $ Impact if Risk Occurs $$ using a dollar value, what would be the financial impact if the

risk occurred

h$.$ Trigger Event $$ what to watch for to know if this risk is starting to occur

i$.$ Mitigation Plan $$ what are some steps you can do to help reduce the likelihood of the

risk from occurring

d$.$ Click Save and add in an additional three risks $($for a total of four$)$

b$.$ Notice when looking at the data the system automatically populates a risk magnitude score $($likelihood x

consequence$)$ and an exposure score $($likelihood x $ impact$)$

$3.$ Go back to your tasks, add another deliverable to your project called $$Risk Planning$$ and include two work

packages: $$Schedule Risk Planning Session$(1$ hr$)$ and $$Complete Risk Planning Session$(2$ hrs$)$

a$.$ Refer back to the video from the prior Weeks if needed.

b$.$ This deliverable should be located toward the beginning of your project.

c$.$ Remember you can move tasks around by dragging the number on the far left of the task. Use the

indent button to properly indent your work packages.

d$.$ Be sure to add predecessors and an assignee to these.

$4.$ Add in Budget and Expenses to your project.

a$.$ Steps for adding in expenses

a$.$ Click on $$Budget $/$ Expenses$$ on the left menu

b$.$ Click $$Add$$ on the top

c$.$ Populate the following fields:

a$.$ Expense $$ a brief name of the expense

b$.$ Planned Expense $$ what is the value planned $($budgeted$)$

c$.$ Planned Expense Date $$ what date do you intend this expense to occur

d$.$ Click Save $$ add in at least three additional planned expenses.

b$.$ Note we won$$t add in the $$actual expense$$ information until the expenses occur in the future

$5.$ Create Milestones

a$.$ Create a minimum of two milestones within your project.

b$.$ Steps:

a$.$ Go to your tasks in your project.

b$.$ Add a new task

c$.$ Set the duration to zero

d$.$ Note you will see a diamond added in the duration column in the task list, representing this is a

milestone.

e$.$ Continue to add another milestone.

f$.$ Drag the milestones so they are played appropriately in your project.

$6.$ Modify the lengths of a couple of tasks

a$.$ Do this by changing the duration of at least two of your tasks.

$7.$ Flag the first two tasks as Done

a$.$ Do this by either:

a$.$ Double clicking the status field of a task, and click $$Mark as Complete$($or$)$

b$.$ Edit the task and put a $\%$ Complete of $100\%$

$8.$ Flag the third task as $50\%$ complete

a$.$ Do this by either:

a$.$ Double clicking the status field of a task, and click $$Mark as in Progress $(50\%)($or$)$

b$.$ Edit the task and put a $\%$ Complete of $50\%$

$9.$ Next, we$$ll complete a project status update $$ which typically is performed weekly by Project Managers

a$.$ Steps for creating the status report:

a$.$ In the upper right click $$Status$$ to pop$-$up the Update Status screen

b$.$ Update the following fields:

a$.$ Health: Leave as On$-$Plan

b$.$ State: Should be set to $$In$-$Progress$$

c$.$ Phase: Update to $$Planning$$

d$.$ Update Notes: Provide $2-3$ sentences on what you learned this week on the different

concepts.

e$.$ Scroll down to the six health fields and update them as you desire:

a$.$ Resource $$ availability of resources for your project?

b$.$ Schedule $$ is your schedule trending on$-$time?

c$.$ Scope $$ is the project staying on scope?

d$.$ Budget $$ are we trending to stay on budget?

e$.$ Quality $$ how is the overall quality of the project?

f$.$ Risk $$ how concerned are we in relation to the identified risks