Project Risk Lifecycle

The project owner and people assigned Project Lead access to a project in Project Management can create risks for the project. Anyone with access to a risk can view its lifecycle.

Project risks and opportunities share the same lifecycle states.

The Project Risk lifecycle includes these states:

This page discusses:

Draft

The risk has just been created but no actual start date is assigned. This is the only state during which the risk can be deleted. After the owner enters the basic information and assigns people to the risk, the owner should promote the task to To Do, which is an indication to assignees that they can begin working on the risk.

To Do

The assignees should begin working on the risk by promoting it to In Work, which populates the actual start date with the current date, or by entering an actual start date, which automatically promotes the risk to In Work.

In Work

The assignee is working on the risk.

In Approval

The risk is ready to be reviewed by other project or company personnel. Assignees should route the risk for review. When such as route is completed, the system automatically promotes the risk to Completed. Alternatively, the owner or assignee can manually promote the risk to Completed or enter an actual finish date, which promotes the risk.

Completed

The risk has been reviewed and is complete. When a risk is promoted to Complete, the system enters the current date as the actual finish date (entering the date may have triggered the promotion).

Archived

The risk is obsolete and used as reference only. You cannot promote or demote a risk after it is archived.