Feature Overview

The Project Risks feature helps teams identify, log, assess, and track risks early, define response plans in advance, and reduce the chance that risks will disrupt project goals, timelines, or budgets.

By managing risks proactively, teams can lower the probability of risk events, reduce the impact of delayed issue handling, and keep the project on track.

Use Cases

• Early project planning: Identify and assess potential risks such as technical challenges or limited resources, assign risk scores and priorities, and prepare response plans early.
• External changes: Manage external risks such as policy changes, market shifts, or supply chain disruptions by defining response and contingency actions.
• Execution monitoring: Continuously track risks, update risk details, and adjust response plans to prevent risks from turning into actual issues.
• Resource prioritization: Use risk scores and priority levels to focus resources on the highest-risk items.
• Decision support: Use risk assessments to support major decisions and compare options more effectively.
• Project review and improvement: Summarize risk management experience at the end of a project and add typical risks to the Risk Library for future reuse.

During project execution, project managers need to identify, track, and manage risks continuously.

In Sanplex Premium, a dedicated Risks module is available at the project level to help teams manage risks more effectively.

Teams often focus heavily on progress and execution after a project begins, while overlooking risks and opportunities along the way. As a result, risks may turn into issues, and opportunities may be missed.

That is why teams need to stay focused not only on delivery, but also on visibility into potential risk and opportunity.

A risk is an uncertainty that may negatively affect the achievement of project objectives. Common risk response strategies include Avoid, Mitigate, Transfer, and Accept.

• Avoid: Prevent the risk from happening in the first place.
• Mitigate: Reduce the likelihood or impact of the risk.
• Transfer: Shift the risk to another party.
• Accept: Accept the risk when it falls within an acceptable range.

1. Add a Risk

Like project issues, risks can be created in the project and imported into the Risk Library for centralized management.

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Sanplex provides built-in dropdown options for Source, Type, and Strategy.

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• Source: Business Department, Project Team, Project Support Function, Management, Supplier - Procurement, Supplier - Outsourcing, External Customer, Other
• Type: Technical, Management, Business, Requirements, Resource, Other
• Strategy: Avoid, Mitigate, Transfer, Accept
• Impact: 1-5, from low to high
• Probability: 1-5, from low to high
• Risk Score: 1-25 (Impact × Probability)
• Priority: Calculated automatically as Low, Medium, or High based on Impact and Probability
• Response Plan: A preventive plan defined before a risk occurs. It is intended to reduce the likelihood of the risk or lessen its impact on the project. Response plans are usually prepared during project planning and may include risk management planning, risk identification and assessment, preventive strategies, and fallback options.
• Contingency Action: An action taken after a risk event occurs. It is intended to reduce the impact on project objectives or prevent further loss. Contingency actions are typically executed based on contingency plans or predefined emergency responses and may include adjusting the project plan, reallocating resources, taking corrective action, or communicating with stakeholders.
• Resolution: A corrective action taken after a risk has already caused an issue or impact. It is intended to resolve the resulting problem and restore the project to a normal state. Resolution actions are usually defined after analysis and root cause review, and may include plan changes, resource reallocation, process improvements, training, or knowledge sharing.

Note: Source and Type can be customized in the admin settings.

Click Save to return to the risk list automatically.

2. Risk Actions and Statuses

• Statuses: Open, Closed, Suspended, Canceled
• Actions: Track, Close, Cancel, Suspend, View Log, Edit

You can also select risks and Import to Risk Library to turn them into reusable organizational knowledge assets.

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