Creating Risk Profile Graphs

LeadingAnswers.com has a post on Creating Risk Profile Graphs. It also provides an excel template for risk profile graphs.
 
Risk management is an important activity on both traditional and agile projects. This article will introduce a method for quickly visualizing the risk status of a project and identifying risk trends.
 
Risk Profile Graphs are “stacked area graphs” of risk severity. The risk severity scores for each risk are plotted one on top of another to give a cumulative severity profile of the project. When risks and their history of severities are displayed like this it is much easier to interpret the overall risk status of the project.

For instance we can tell from the general downward trend that the project risks are reducing. These Risk Profile Graphs are an excellent way of demonstrating the value of “Iteration 0” activities that may not deliver much/any business value, but are extremely useful in proving approaches and reducing project risks.

Risk Profile Graphs quickly inform stakeholders if the risks are moving in the right direction (downwards) or if issues and concerns are escalating. They provide a simple to interpret health-check for a your project and are quickly produced in tools like Excel. Tracking the reduction of project risks is a metric that is useful on projects, it is not a core metric like features delivered, but one we are actively trying to control and relevant to the goal of delivering successful projects.

Worth Reading it….

http://leadinganswers.typepad.com/leading_answers/2006/09/creating_risk_p.html#more

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