What is the definition of a RED risk in PPM?

[GPenetito]

Hi team. In the Status Report metrics summary I can see individual values for Overdue and Red. What is a Red risk?

[Community Alums]

Hi @GPenetito ,

The Overall status is subjective and does not have a script or business rule in the background. Based on other indicators like the resource, scope, cost it's at PMs discretion to update the Overall status to RED, AMBER or GREEN of the project.

The OOB risk states of Pending (Open), Not Achieved ( Red) and Achieved (green) is not very intuitive. In my opinion, a risk should Open, Realized ( Now an issue) or closed ( Not realized.  

• • Pending (“Open”) should be selected when a risk has been opened and team is investigating the mitigation plan; once the risk action plan is in place the risk will then need to move to  “Not Achieved” to track.. 
  • Not Achieved (Red) should be selected when a risk has not occurred and remains a potential threat to the project. Once the potential  risk has been realized/occurred move the state to ‘Achieved’ which will close the risk and will now be tracked as a project issue.  ServiceNow will not automatically create an issue if you set the state to achieve - you will need to manually create a new Issue to describe this..  Note the Project Manager will need to open an Issue separately.

• • Achieved (Green) the risk has been mitigated and is now closed

Note: When a Risk does not occur and there is no longer a threat to the project, the risk probability  and risk impact should be reduced to zero so the overall project risk assessment does not include the Not Achieved or “closed” risk.

Mark my answer correct & Helpful, if Applicable.

Thanks,

Sandeep

[Doug Page]

There is also some additional information on this docs page:

https://docs.servicenow.com/bundle/tokyo-it-business-management/page/product/project-management/task/risk-value-lookup-project.html

Doug

[GPenetito]

@Sandeep Dutta Thanks for your response - I appreciate you taking the time. I think the response from @Doug Page probably makes more sense in that it is more related to the "sizing" of the risk than the state of the risk. It is likely that that we configured this against our risk heatmap (Consequence x Probability) at the outset

Thanks both