Risk management tools free edition

Many tools also can be used to support the management of project, enterprise, and system-of-systems risks. RiskNav lets you collect, analyze, prioritize, monitor, and visualize risk information in a collaborative fashion. RiskNav, originally produced for the U. The Technology Transfer Office will support the tool for contractor and other government acquisition and will ensure that proper licensing forms are obtained and signed by new users.

There is no cost for government usage. RiskNav presents the risk space in tabular and graphical form. The tabular form, shown in Table 1, presents key information for each risk and allows the risk space to be filtered and sorted to focus on the most important risks.

The information in the tables and figures is artificial and for illustrative purposes only. It does not represent real programs, past or present. RiskNav uses a weighted average model Table 2 that computes an overall score for each identified risk. The risk priority is a weighted average of the timeframe how soon the risk will occur , probability of occurrence, and impact cost, schedule, technical.

This score provides a rank order of the risks from most critical to least critical. Formally, this scoring model originates from the concept of linear utility, where more important risks get higher numbers, and the gaps between the numbers correspond to the relative strengths of the differences. The data points represent risks, and the color of a box indicates the status of the mitigation action White : no plan; Red : plan not working; Yellow : may not work; Green : most likely successful; Blue : completed successfully; Black : actions will start at a later date.

Data points can be selected to show detailed risk information about the analysis, who is working the management actions, the status, and other information.

RiskNav also displays a 5x5 frequency chart Figure 2 showing the number of risks in each square of a 5x5 matrix of probability versus consequence ranges. The Red cells contain the highest priority risks.

The Yellow and Green cells contain medium and low priority risks, respectively. RiskNav incorporates an administrative capability that allows the chart's probability and consequence ranges to be customized.

Clicking on a cell provides a detailed list of the risks in that cell. The All Red , All Yellow, and All Green icons at the top of the chart can be used to list risks in all cells of a particular color.

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