How to Create a Risk

Effectively managing project risks is crucial for success. Follow these steps to create a new risk in Mastt.

How to Create a Risk

1. Access the Risk Module
   1. Click on the Hamburger Menu
   2. Select Risk from the options
2. Create a New Risk
   1. Click the + Add Risk button
3. Enter Basic Risk Information
   1. Title: Name of the risk
   2. Status: Choose from Active, Draft, Realised, or Retired
   3. Number: Automatically increments, but can be customised
   4. Key Risk: Toggle on to highlight in dashboards
   5. Description: Detailed explanation of the risk
   6. Categories: Select Primary and Secondary risk categories
   7. Dates: Set Risk Review Date and Possible Realise Date
4. Add Causes (if applicable)
   1. Click on the Causes tab
   2. Select + Add Cause
   3. Enter Title, Status, and Description for each cause
5. Define Impacts and Treatments
   1. Navigate to Impacts & Treatments tab
   2. Click + Add Impact
   3. For each impact, enter:
      1. Title and Description
      2. Status (Active, Draft, Realised, or Retired)
      3. Pre-Treatment Risk Rating: Set likelihood and impact
      4. Pre-Treatment Cost and Delay estimates
      5. Post-Treatment Risk Rating: Set likelihood and impact
      6. Post-Treatment Cost and Delay estimates
6. Add Treatments (if applicable)
   1. Within the impact, click + Add next to Treatments
   2. For each treatment, provide:
      1. Title and Description
      2. Status (Active, Draft, Realised, or Retired)
      3. Responsible party (person or organisation)
7. Create Risk Provision (optional)
   1. Return to the Risk tab
   2. Toggle on Cost Module
   3. Enter:
      1. Cost (defaults to total Post-Treatment Impact Cost, but can be adjusted)
      2. Factor % (if your organization uses risk likelihood factors)
      3. Select the Budget for the Risk Provision
8. Click Save.

Your Risk will now be added to your Project!