Managing Project Risks in Mastt

Use the Risk module to record your project's risks, break each one into causes, impacts and treatments, rate it before and after treatment, and send its cost to the Cost Module.

Risk statuses

Risks, causes, impacts and treatments each have a status: Active, Draft, Realised or Retired.

When you set a risk to Retired, its Retired Date fills in automatically with the current date. If you change the status back, the date clears.

The risk register

Open Risk in the side navigation bar. The toolbar lets you switch between views of your risks:

View	What it shows
Matrix	Your risks plotted on a 5x5 grid, before and after treatment. Likelihood runs up the side and Impact runs along the bottom.
Totals	The number of risks in each category after treatment
Provision	The money set aside for each risk category
Cost	The potential cost impact of each category
Delay	The total days of potential delay for each category
Risk Reference	A reference key showing the rating you get for each combination of likelihood and impact, from Very Low to Very High. You can open it even before you've added any risks.
None	Hides the charts so you can focus on the table

Below the charts, the risk table lists each risk with its key, number, status, description, category, pre- and post-treatment ratings, costs and delays, who's responsible and its review date. Use Columns to choose what you see, Filter to narrow the list and Expand All to open every risk.

Create a risk

Click + Add Risk in the top left corner. The form opens in a side panel with three tabs: Risk, Causes and Impacts & Treatments.
Fill in the Risk tab (see below).
Add causes, impacts and treatments (see the sections that follow).
Click Save.

The Risk tab

Field	Notes
Title	A clear name for the risk, for example Latent Conditions (required)
Status	Active, Draft, Realised or Retired
Number	Assigned in sequence. You can change it if you use your own numbering system.
Key Risk	Toggle on for important risks. This is useful for filtering dashboards.
Description	A detailed description of the risk
Category and Secondary Categories	Choose from the dropdowns. To add custom categories to your workspace, contact Mastt Support.
Review Date	When the risk is next due for review
Possible Realise Date	When the risk might occur
Retired Date	Fills in automatically when the status is set to Retired
Cost Module	Toggle on to send the risk's cost to the Cost Module (see below)

Further down the tab, Mastt shows the Highest Impact Rating, Total Impact Cost and Total Impact Delay for the risk, before and after treatment. These are worked out from the impacts you add.

Add causes

Open the Causes tab and click + Add Cause.
Enter a title, choose a status and add a description.
Click + Another Cause to add more. Use the bin icon to delete a cause.

Add impacts and treatments

On the Impacts & Treatments tab, click + Add Impact. For each impact:

Enter a title (for example, Delays), choose a status and add a description.
Rate it before treatment:

- Likelihood – N/A, Rare, Unlikely, Possible, Likely or Almost Certain - Impact – N/A, Insignificant, Minor, Moderate, Major or Severe - The cost and the delay (days) if the impact happens

Under Treatments, click + Add and enter a title, status, description and who is responsible.
Rate it after treatment, reassessing the likelihood, impact, cost and delay.

A small matrix next to the sliders shows where the rating falls. Click + Another Impact to add more.

Send a risk to the Cost Module

On the Risk tab, toggle on Cost Module.
Check the Cost. It starts at the total post-treatment impact cost.
Set the Factor (%) to adjust the amount: 100% sends the full amount, and a higher or lower value adjusts it up or down based on your confidence. The Factor (%) is only available when the post-treatment total impact cost isn't zero, because there needs to be a cost to send.
Choose the Budget the risk belongs to (required).
Click Save.

The risk then appears in the Forecast register with a yellow R icon. You can edit it from there, or from the Overall page. See Managing Forecasts in Mastt.

Review and export your risks

Filter: click Filter, set your criteria, and apply. For example, show only key risks.
Export: click Export and choose Current View (which respects your filters) or All Data (every risk, whatever the filters). It downloads a CSV file.
Download Excel: click Download Excel (top right) for the standard Risk Register as a formatted Excel document.
Wrap Text: click the settings cog and toggle Wrap Text to see long descriptions in full.

Troubleshooting

Problem	What to try
A category I need isn't in the list	Contact Mastt Support to add custom categories.
A risk isn't showing in the Cost Module	Make sure Cost Module is toggled on and a Budget is selected.
The matrix hasn't updated	Save the risk after making changes.
Long descriptions are cut off	Turn on Wrap Text in the settings cog.
I can't edit the Retired Date	It fills in automatically when you set the status to Retired.