Risk Analysis
Overview
The Risk Analysis module is designed to identify, assess, and manage risks in construction and commissioning projects. It enables users to document risk causes and effects, evaluate probability and consequence, assign responsibility, track mitigation measures, and monitor risk status throughout the project lifecycle.
Key Concepts
Risk Analysis: A record representing the identification and evaluation of a potential risk, including its probability, consequence, and mitigation actions.
Status: The current state of the risk (Draft, In Progress, Completed, Cancelled).
Assignment: Risks can be assigned to users or agents for mitigation and follow-up.
Related Record: Risks can be linked to other records (e.g., checklists, components) for context.
Rich Text: Both the cause/effect description and mitigation measures fields support rich text formatting.
Main Pages
1. Risk Analysis List
Purpose: View, filter, and manage all risk analyses.
Key Fields:
Code: Unique identifier for the risk analysis.
Subject: Brief summary of the risk.
Probability: Likelihood of the risk occurring.
Consequence: Impact if the risk occurs.
Risk (P x C): Calculated risk score (Probability x Consequence).
Risk Cost: Estimated cost if the risk occurs.
Calculated Risk Cost: Product of risk cost and risk score.
New Probability/Consequence: Updated values after mitigation.
New Risk (P x C): Updated risk score after mitigation.
New Risk Cost/Calculated Risk Cost: Updated cost after mitigation.
Status: Current status of the risk.
Due Date: Deadline for addressing the risk.
Assigned By/To/To Agent: Assignment information.
Related RecordId: Link to a related record (e.g., checklist or component).
Last Modified: Timestamp of last modification.
Actions:
Open Related Record: Navigate to the linked record for more context.
2. Risk Analysis Card
Purpose: View and edit details of a single risk analysis.
Sections:
General: Main details (subject, assignment, status, due date, related record).
Cause / Effect Description: Rich text field for detailed description of the risk's cause and effect.
Corrective / Risk Mitigation Measures: Rich text field for documenting mitigation actions.
FactBoxes: Show attached documents and system links.
Actions:
Save Description/Mitigation: Rich text fields are saved automatically when edited.
How to Use
Creating a Risk Analysis
Go to NOC Risk Analysis List and select New.
Fill in the required fields: Subject, Probability, Consequence, Assigned To, Due Date, etc.
Optionally, link the risk to another record using the Related RecordId field.
Enter a detailed cause/effect description and mitigation measures in the rich text fields.
Assigning and Tracking
Assign risks to users or agents using the Assigned To and Assigned To Agent fields.
Track progress using the Status field.
Use filters on the list page to monitor your assigned risks.
Evaluating and Mitigating Risks
Set the Probability and Consequence to calculate the initial risk score.
Enter the Risk Cost to estimate the financial impact.
After mitigation, update the New Probability, New Consequence, and New Risk Cost fields.
The system automatically recalculates the new risk score and cost.
Linking to Other Records
Use the Related RecordId field to link a risk to another record (e.g., a checklist, component, or document).
The Table No. and Table Caption fields are automatically updated based on the related record.
Field Descriptions
Field | Description |
|---|---|
Code | Unique identifier for the risk analysis |
Description | Brief summary of the risk |
Cause / Effect Description | Detailed description (rich text supported) |
Probability | Likelihood of the risk (Unlikely, Likely, Inevitable, etc.) |
Consequence | Impact if the risk occurs (Insignificant, Critical, etc.) |
Risk (P x C) | Calculated risk score (Probability x Consequence) |
Risk Cost | Estimated cost if the risk occurs |
Calculated Risk Cost | Product of risk cost and risk score |
New Probability/Consequence | Updated values after mitigation |
New Risk (P x C) | Updated risk score after mitigation |
New Risk Cost/Calculated | Updated cost after mitigation |
Measures Trans. To Action Log | Measures transferred to the action log |
Status | Progress status (Draft, In Progress, Completed, Cancelled) |
Due Date | Deadline for addressing the risk |
Assigned By | User who created or assigned the risk |
Assigned To | User responsible for handling the risk |
Assigned To Agent | Construction agent responsible |
Related RecordId | Links the risk to another record in the system |
Table No./Caption | Shows the table number and caption of the related record |
Status Values
Draft: Risk analysis is being prepared.
In Progress: Risk is being evaluated or mitigated.
Completed: Risk has been addressed and closed.
Cancelled: Risk analysis is cancelled.
Probability & Consequence Values
Probability: Unlikely, Less likely, Likely, Very likely, Inevitable
Consequence: Insignificant, Less dangerous, Dangerous, Critical, Very critical
Tips
Use filters on the Risk Analysis List to quickly find risks by status, assignment, or due date.
Use the Risk (P x C) and New Risk (P x C) fields to monitor the effectiveness of mitigation measures.
Always update the status and mitigation fields as work progresses for accurate tracking.
Security & Permissions
Only users with appropriate permissions can create, edit, or assign risk analyses.
Assignment fields are validated against user and agent tables.
Troubleshooting
If you cannot see or edit a risk analysis, check your permissions and assignment.
If the Related RecordId is not set, ensure you are linking to a valid record.