Project risks are tracked and managed in a variety of ways in PlanAutomate. From the continuously updated issue register to formal month-end and gateway review risk assessments to 20+ built-in project health indicators, PlanAutomate enables continuous tracking and reporting against project risks.
The issue register allows tracking of issues against WBS tasks. Issues are assigned to workers for resolution and are tagged with deadlines, severity codes and type classification for reporting purposes. A discussion log and revision control ensure issues are tightly tracked from creation to resolution.
As projects pass through schedule milestones formal risk reviews can be configured, the resulting risk assessment is published in various project dashboards. Likewise, formal risk reviews can be enforced during the month-end process along with mandatory checklists to enforce corporate governance.
Central to effective risk management is early detection. The quicker a risk is identified the more likely the chance of effective risk mitigating action being taken. PlanAutomate comes with a wide range of project health indicators (Sensor Points™) monitoring everything from eroding milestone slack and resource conflicts to budget overruns and delayed purchase orders. Sensor points are automatically updated and enables project managers and C-level stakeholders to stay ahead of emerging risks and to take timely corrective action.
