Risk Matrix Add-On

A brief overview video of the newer Risk Matrix feature as of 2024.

Transcript:

This video will walk you through the new Risk Matrix add-on. The Risk Matrix add-on can be configured by going to the Add-ons page in Project Insight. After hitting "Configure," you'll see a page where you can set the probability rows, severity rows, and the X and Y axis to determine how many columns and rows there are. In this example, I have five rows and five columns. My headings for probability and severity are their own namesakes: probability and severity.

In the configuration, you can set the colors. As you can see here, I've got three outcomes: low, medium, and high. I have the colors set for each one of those outcomes. You can also set additional outcomes and set the colors for each of those here on this table. After you've set those colors, you can now set the color for each cell in the matrix that represents the meeting point for low, medium, and high to match the three outcomes. Once you've set that configuration, I will confirm it and save it.

Automatically, once you've set the configuration for your Risk Matrix, go to any project to set the risk for each project. You'll go to your project views and then to risks. You'll see the chart here for probability and severity. Once you've added your risks in the specific project, a line will show the risk for the probability and severity and where that meeting point is for major as my severity and possible as the probability, depending on how you have it in your list. It will show the number and its position on the Risk Matrix.

If I add a new risk, all that is really required is to determine where on the Risk Matrix it is appearing. You can also indicate which issue it is going to be related to regarding resolutions and effects. After making these selections, go ahead and hit save. You can create an issue from it, which will tell you the last updated date and where that risk is landing on the Matrix.

For more information about how to use the Risk Matrix, try it out through the add-ons. You can access it by going to your add-ons list.

For additional information, please reach out to our support team regarding the Risk Matrix add-on or check out more documentation in our Help Center.