Difference between Pending, Achieved, and Not Achieved with Project Portfolio Management RIsks

[tstocking]

Does anyone know the difference between Pending, Achieved, and Not Achieved with Project Portfolio Management RIsks?   Initially we thought "Achieved" was opened and "Not Achieved" was closed but the color coding shows green for the former and red for the latter. We also couldn't find any documentation on any other website that aligns with these state values.

[Janel Kelly]

Hello,

Can you please assist in defining these Risk Statuses. Trying to better articulate to a client.

Risk status

Status of the risk. The available options are: Pending, Achieved, Not Achieved, Avoid, Mitigate, Transfer, and Accept.

[Jennifer Yiu]

Hello!  Wondering if anyone has found a standard set of ServiceNow definitions for the project risk status options?

The available options are: Pending, Achieved, Not Achieved, Avoid, Mitigate, Transfer, and Accept.

[Toju Smith]

Another thing ServiceNow has done without thinking much about in SPM.

Here's how I will be implementing the process for my clients. 

Also I do no particularly like the "Achieved", "Not achieved" terms.. I would replace with "Occurred / Averted" or something like that 

State	State Description	Status Options	Additional Notes
Pending	Risk has not been reviewed or assessed yet.	Pending	Default state for newly created risks. No risk response has been chosen.
Open	Risk has been reviewed and deemed to be a valid risk.	Accept, Mitigate, Transfer, Avoid	A decision record may be created to confirm / authorize/ document risk response, after which the appropriate risk response is selected on the risk record.
Work in Progress	Work to implement the risk response is in progress. The assigned to field is set.	Mitigate, Transfer, Avoid	State is set to WIP to take action on the risk response that was decided. If WIP is selected, Accept status should not be available. The state should remain open until it is "achieved" or "not achieved"
Close Complete	The risk has been addressed or resolved successfully (e.g., mitigated, avoided, or occurred and was handled).	Achieved, Not Achieved	Select Not Achieved, if the risk response was implemented successfully and the risk no longer exists as a result. Select Achieved if the risk was fully addressed but still ended up leading up to an issue.
Closed Incomplete	The risk was not fully addressed or resolved, and no further action is planned.	Achieved, Not Achieved	Select Not Achieved if the risk response was NOT implemented successfully or only partially addressed BUT did not result in an issue. Set status to Achieved if the risk response was NOT implemented successfully or only partially addressed, leading to an issue
Closed Skipped	The risk is no longer relevant for reasons unrelated to mitigation, avoidance, or transfer.	Not Achieved	E.g. Project got cancelled or the circumstances of the risk changed (for example, political)

[Jennifer Yiu]

Thank you @Toju Smith for your thorough example! Much appreciated. ✔️

Standard definitions across the organization helps when we can be specific - your chart is a great frame for others to reference. 

A few additional mentions for RIDAC in general:

1. For the related actions or issues, the Convert RIDAC is useful but we've found that a user has to manually add a work note / activity stream comment to describe the risk state and link to the new record ()
2. The user has to remember to take action to close the parent record.  A report will help to check the state aligns with the record's status options.  
3. The user has to be able to handily reference a table like the above - we've found a KBA link in banner works and we maintain the KBA with guidance, incl. the RIDAC sequence (which records can be converted into another as it is not intuitive to all those in our org that an pending decision cannot become an issue, nor can an issue be converted into a risk)