Project Costs are often siloed from Risks, which is why we have integrated the Risk and Cost Modules - allowing any changes to Risks or Costs to seamlessly sync between the two modules.
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Data flow from the Risk Module to the Cost Module
When creating a risk, you can add Pre- and Post-Mitigation Cost Impacts (under the Causes). If you have added multiple Causes with Pre- and Post-Mitigation Cost Impacts, it will sum the total amount for all Causes. On the Risk Register, click on the On Cost Module toggle to enable the Data flow:
This will automatically create a Risk Provision Forecast in the Cost Module:
The Inherent Risk is the Pre-Mitigation Cost Impact, and the Residual Risk is the Post-Mitigation Cost Impact. Initially, the forecast will not be assigned to a Contract or Budget, but you can easily move it to the right Contract or Budget.
Data flow from the Cost Module to the Risk Module
If you create a Risk Provision Forecast, it will create a Risk on the Risk Module:
You will need to add additional information to the Risk (like the Category, Risk Rating, and Mitigations/Consequences), but any changes to the Pre- and Post-Mitigation Cost Impacts will update the Forecast in the Cost Module, reducing the work you need to do.