Introduction
Risk Management is an essential process for properly managing any project. In Easy8, the Risk Management tool helps teams and managers identify, assess, and monitor risks through structured analysis and reporting. It works on both global and project levels to ensure that risks are addressed across the entire organization.
Target Audience
- User
Concept
The Risk Management feature in Easy8 provides tools to define risk matrices, manage individual risks, and gain a clear overview of project or portfolio-level risks. It is designed to help organizations plan risk responses and maintain control over uncertain events.
There are two main areas where the Risk Management module operates:
Global Risk Management
This is used by roles such as line managers, risk managers, or the Project Management Office (PMO). It provides a centralized view of all risks across projects, helping leadership track risk trends, apply organizational policies, and ensure standardization.
Project Risk Management
This module is used directly within individual projects. Its purpose is to manage risks that are specific to each project in a controlled way. Project teams can identify, assess, and respond to risks that could affect project goals.
Key Terms and Definitions
| Term | Description |
|---|---|
| Qualitative Risk Analysis | A technique for assessing the risk level of hazards based on likelihood and consequences, without using numerical data. |
| Quantitative Risk Analysis | Assigns numerical values to risks to support probabilistic analysis and decision-making. |
| Probability | The likelihood that a specific risk will occur. |
| Impact | The estimated loss or consequence if a risk materializes. |
| Severity | Measures how strongly a risk could affect people, goals, or operations. |
| Category | Groups of related risk sources (e.g., technical, organizational, environmental). |
| Response | Strategic actions assigned to a team member to reduce or manage a risk. |
| Templates | Predefined structures for both global and project-level risk management views. |
Summary
Risk Management in Easy8 supports the entire lifecycle of risk handling—from assessment to response—across both individual projects and the whole organization. With global oversight and project-level control, teams can minimize threats and enhance opportunities.
