How to Create Your First Risk and Generate a Risk Register
Create your first risk in Mastt, add causes, impacts and treatments, set up cost provisions, and download your risk register.
Creating your first risk is the foundation of project risk management. Once you've added risks, you can generate a risk register to share with stakeholders and track through the project.
Before you start
- Prepare your risk information, including causes, impacts and possible treatments.
- Review your organisation's risk management standards.
- Check your risk categories are set up. To add custom categories, contact Mastt support.
Create your first risk
- Open Risk in the side navigation bar of your project.
- Click + Add Risk in the upper left corner. The form opens in a side panel.
- Fill in the Risk tab:
| Field | Notes |
|---|---|
| Title | A clear name, for example Weather delays during excavation (required) |
| Status | Active, Draft, Realised or Retired |
| Number | Assigned in sequence. You can change it. |
| Key Risk | Toggle on if this is one of your most significant risks |
| Description | A detailed explanation of the risk |
| Category and Secondary Categories | Choose from the dropdowns |
| Review Date | When the risk is next due for review |
| Possible Realise Date | When the risk might occur, if known |
The Retired Date fills in automatically if you set the status to Retired.
Add causes (optional)
- Open the Causes tab and click + Add Cause.
- Enter the cause's title, status and description.
Add impacts and treatments
- Open the Impacts & Treatments tab and click + Add Impact.
- For each impact, enter a title, status and description.
- Rate the impact before treatment: choose the likelihood and impact, then enter the cost and the delay in days.
- Under Treatments, click + Add and enter a title, status, description and who is responsible.
- Rate the impact after treatment, with the likelihood, impact, cost and delay you expect once the treatment is in place.
Set up cost provisions
- Return to the Risk tab and toggle on Cost Module.
- Check the Cost. It starts at the total post-treatment impact cost.
- Set the Factor (%) if your organisation uses likelihood factors. It's available once the post-treatment total impact cost isn't zero.
- Choose the Budget for the risk provision.
- Click Save.
Generate your risk register
- On the Risk module's main page, click Download Excel (top right).
- Open the standard Risk Register, a formatted Excel document. It includes all your risks with their causes, impacts, treatments and cost provisions.
To change or remove a risk later, see How to Edit and Delete Risks.
Tips for your first risk
- Start with your high-impact, high-likelihood risks, so the value is clear straight away.
- Use specific, measurable descriptions, not vague statements.
- Give every treatment a clear owner, so someone is accountable.