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Logs - Issues, Risks and Decisions

Logs - Issues, Risks and Decisions

Owned by Shawn Pappelbaum
Last updated: Feb 18, 2025
4 min read

Risks

Risks are items that might happen and will impact the project if it does occur. Risks are evaluated by three areas: Probability, Impact, and Risk Score.

PLAN STRATEGY

PLAN STRATEGY

The project team will identify an individual responsible for determining risk mitigation plan, or contingency plan, for each risk identified. This individual is also responsible for logging the risk in ITS PRO.

Requirement: All active risks must have a Mitigation Plan and Due Date. 

If the assignee hasn't provided a Mitigation Plan yet, the plan can state something like "Mitigation Plan to be developed by @assignee by X/X" with X/X being a due date where the Assignee needs to complete the Mitigation Plan by.  Due date should be when the risk is no longer a risk - for some risks (like "resources could get burned out") the risk will run the length of the project, and in those cases the estimated project close date (like 6/30/2026 for TSS) would be Due Date that would be entered.

Note:

  • Risks with an overall risk score of 6, or higher, needs to follow the escalation process with governance.

  • The project team generally conducts a working risk assessment session to identify initial risks. Larger projects may need multiple sessions to complete assessment.

  • If a risk is not handled on time, it becomes an issue. It is important to track and maintain the Risk record and associated mitigation plan.

  • While any project team member can create a project Risk, Issue or Decision, the Project Manager must ensure that all necessary fields are populated and maintained. The Project Manager must also make sure there is visibility to the project Risks, owners and due dates and make sure that escalation is occurring, as needed.

Risk Evaluation Definitions

Mitigation Strategy Definitions:

Risk Evaluation Definitions

Mitigation Strategy Definitions:

  • Probability: Likelihood of the risk to occur

    • 1 = Unlikely

    • 2 = Likely

    • 3 = Almost Certain

  • Impact: Consequences for the project if the risk occurs

    • 1 = Minor

    • 2 = Major

    • 3 = Critical

Risk Score: Calculated by Probability * Impact (1-9 scale, 9 most severe)

The Mitigation Strategy for a risk should address the risk in one of four ways:

  • Avoid - pursuit of a completely different approach to the task, thus eliminating the risk

  • Transfer - moving the risk elsewhere (supplier or other organization)

  • Mitigate - developing a plan to reduce the consequence and/or the likelihood of a risk event occurring

  • Accept - allowing the risk to remain and dealing with the consequences if it happens

Creating a “Risk” record in ITS PRO

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Creating a “Risk” record in ITS PRO

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Issues

Issue is an item that is currently happening or has happened and is impacting the project.

Issue Priority can be determined by assessing its potential consequences, such as delays, cost overruns, or impact on project scope.

“Low” = Minor Impact

“ Medium” - Medium Impact

“High” -Major Impact

“Highest” = Critical Impact

Issues are also given a “Risk score”, based on Probability and Impact (see “Evaluating an Issue” below)

Note:

  • All active issues must have a due date and action plan. 

For the action plan, you would use the Smart Checklist to document who is doing what to resolve the issue and when the action is due (for example, for an issue called "Many TSS risks are missing mitigation plans", I might have a Smart Checklist item called "Work with team to add mitigation plan to each risk - Tom Jones - 2/12/2025". 

  • Issue due dates should reflect when the action plan will actually be complete as best we can estimate, so they should never be dated in the past/overdue in ITS PRO.

  • While any project team member can create a project Risk, Issue or Decision, the Project Manager must ensure that all necessary fields are populated and maintained. The Project Manager must also make sure there is visibility to the project Issues, owners and due dates and make sure that escalation is occurring, as needed.

Issue Evaluation Definitions

Issue Evaluation Definitions

  • Probability: Likelihood to occur or reoccur:

    • 1 = Unlikely

    • 2 = Likely

    • 3 = Almost Certain

  • Impact: Consequences for the project:

    • 1 = Minor

    • 2 = Major

    • 3 = Critical

Score: Calculated by Probability * Impact (1-9 scale, 9 most severe)

Creating an “Issue” Record in ITS PRO

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Creating an “Issue” Record in ITS PRO

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Decision

The decision log tracks major decisions made throughout the project.

  • All ITS PRO summary/titles and collab decision log titles should start with "Decide to” or “Decide on" followed by the short description.

    • example: "Decide on technical approach to integration", “Decide to begin project”, etc.

  • All decision logs are assigned as "decision" issue type in ITS PRO.

  • All decisions have an assignee and a due date.  The due date should be when the date when the decision will negatively impact project scope, timeline, and/or budget.  If that date where it causes an impact is in the past, then putting a past due date is fine and it will get visibility to leadership in the report that it needs escalation. If a decision is not handled on time, it becomes an Risk. For this reason, it is important to track and maintain the decision record and associated decision due date.

Note:

  • While any project team member can create a project Risk, Issue or Decision, the Project Manager must ensure that all necessary fields are populated and maintained. The Project Manager must also make sure there is visibility to the project decisions, owners and due dates and make sure that escalation is occurring, as needed.

Creating a “Decision” record in ITS PRO

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Creating a “Decision” record in ITS PRO

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  1. Select Issue Type “Decision”

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Decision Log Entry