Issue, Risk, and Opportunity

2022-05-06 14:12:47
Kelsea
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Last edited by Hongyan on 2022-05-06 14:13:18
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Issue, Risk, and Opportunity

Project managers are required to track, identify and manage issues, risks, and opportunities of the project during the practice process.

 

There are 3 function modules including issue management, risk management, and opportunity management in ZenTao Max for the convenience of project managers to manage the project.

1. Issue

Issues are non-risk and bug-like problems that occur unexpectedly during the lifecycle of a project. There are various types of issues including design issues, code defects, performance issues, version control, story additions, story changes, story deletions, data issues, etc. Project managers shall continue to identify and track issues until the end of the project so that they could address and close the issues timely and make sure the progress is not affected.

1.1 Create Issue

Select a project, and then click "Other"-"Issue"-"Create Issue"

Select the type of the issue and fill in the related information.

Click Save and it will go to the list of all the issues automatically.

1.2 Others

There are action buttons including Confirm, Assign To, Close, Cancel, etc available on the right side.

You can view the details of the issues by clicking their titles. Besides, issues can be imported into the issue library as a process asset for the organization.

Note: You need to create an issue library in "Asset Lib"-"Issue Lib" first.

2. Risk

Everyone tends to focus on the progress and execution once the project begins, ignoring the risks and opportunities so that the risks turn into issues and the opportunities are missed.

 

So we are not supposed to only bury our heads in work, but also look around the road, control risks and seize opportunities.

 

Risk refers to uncertainty that may have a negative impact on the achievement of goals. Risk management strategies include avoidance, mitigation, transfer, and acceptance.

  • Avoidance: Keep risks from happening.
  • Mitigation: Reduce the probability of occurrence and lower the impact.
  • Transfer: Transfer the risks to others.
  • Acceptance: Within the bounds of acceptance.

2.1 Create Risk

The same as issues, you can create risks and import them to the asset library for convenient management.

There are drop-down menus built-in ZenTao for the source, type, and strategy of risks.

  • Source: Business, Project Team, Project Support Department, Management, Supplier-Procurement, Supplier-Outsourcing, Customer, Other
  • Type: Technology, Management, Business, Requirement, Resource, Other
  • Strategy: Avoidance, Mitigation, Transfer, Acceptance.
  • Impact: 1-5, from low to high
  • Probability: 1-5, from low to high
  • Risk Index: 1-25 (Impact*Probability)
  • Priority: Automatically calculated as Low, Medium, or High based on impact and probability

Click Save and it will go to the list of all the risks automatically.

2.2 Others

Status of Risk: Open, Closed, Suspend, Cancel


Actions: Track, Close, Cancel, Suspend, View Effort, Edit


Risks can be imported into the risk library as a process asset for the organization.

3. Opportunity

Opportunity refers to uncertainty that may have a positive impact on the achievement of goals.

 

Opportunity management strategies include monitoring, creating, exploiting, enhancing, and accepting.

 

The same as issues and risks, you can create opportunities and import them to the asset library for convenient management.

3.1 Create Opportunity

Click "Create Opportunity" in the top right corner and you will see the page below:

  • Source: Business, Project Team, Project Support Department, Management, Supplier-Procurement, Supplier-Outsourcing, Customer, Other
  • Type: Technology, Management, Business, Requirement, Resource, Other
  • Strategy: Monitor, Create, Utilize, Enhance, Accept
  • Impact: 1-5, from low to high
  • Probability: 1-5, from low to high
  • Risk Index: 1-25 (Impact*Probability)
  • Priority: Automatically calculated as Low, Medium, or High based on impact and probability

Click Save and it will go to the list of all the opportunities automatically.

3.2 Others

Status of Opportunity: Open, Closed, Suspend, Cancel


Actions: Track, Close, Cancel, Suspend, View Effort, Edit


Opportunities can be imported into the opportunity library as a process asset for the organization.

 

Besides, opportunities can be batch edited and assigned to team members.

Click "Track" and tick the box "Yes" of "Any change?", you will go to the edit page of the opportunity and could make modifications according to the changes.

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