Delivery Risks and Value Risks
PM3 distinguishes between delivery risks i.e risks that threaten the delivery of either the entire project or part of the project and value risks that may not affect the delivery but have a negative impact on the benefits that are expected. This is an important distinction that again helps the programme or project manager focus on what is important, i.e the business benefits.
Risks can be categorised by user-defined categories and like milestones risks and issues can be escalated or promoted to higher levels in the plan hierarchy.
Delivery Issues and Value Issues
In the same way, PM3 distinguishes between delivery issues and value issues.
5 x 5 Risk Matrices
In PM3, risks can be automatically converted to issues and there is no need to have separate risk or issue spreadsheets. Risks and issues can be categorised in terms of severity and likelihood using a 3×3 matrix or a 5 x 5 matrix.. Risks and Issues can be viewed on the same screen using the ‘split view’ feature, or on individual screens.
PM3 has a number of different risk matrices that can be selected.