Risk Likelihoods

Risk Consequences are used against Project Risks to show how likely the Risk is to occur. The list shown on this screen is provided by default, it is created the first time you use this screen or raise a Risk.

There is no limit to the number of Risk Likelihoods you may create but note that this list is based on observed standards and if you create too many, many of the input screens and reports will become awkward to use.

Fields Shown:-

Sort Order: A number representing the order in which you want the likelihoods displayed. This has no meaning to the system other than to determine the order of the likelihoods.

Optional - likelihoods will display in alphabetic order if left blank.

Description: Text describing the likelihood. This is shown on screen and in many reports. Required.

Comments: A full-text field providing a verbose description of the likelihood. Optional.

! You cannot delete a Likelihood once it has been used on a Risk or on the Risk Matrix. However, if you find you will no longer be using a Likelihood, you can give it a very high Sort Order and add 'do not use' to its description.