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Standing up the Risk module on a new project takes about eight settings, and they live in two different places. This page is the map. Each piece then has its own short guide in this series.

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Where the settings live

Risk categories and risk types are global lists. Anything added shows up in every project on the system, so agree on naming with other project teams before adding entries.

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The order to work in

Each step depends on the ones above it, so working top to bottom avoids rework.
1

Registry set and calendar

Everything downstream leans on these. Confirm the project is pointed at the right registry set, and build the working calendar so durations respect your work week and holidays.See Registry and Project Calendar.
2

Risk ID prefixes, categories, and types

Until these exist, nobody can write a risk in a way that classifies properly.See How to Set Up Risk IDs, Categories, and Types.
3

Risk thresholds

Cost, schedule, and probability bands. All three are required, and until they exist the Add Risk form will not open at all.See How to Set Up Risk Thresholds.
4

Uncertainty classes and the basis code map

These drive the estimating side of the Monte Carlo simulation, separately from the risk register itself.See How to Set Up Uncertainty Classes.
5

Spread types

How each risk’s exposure is distributed across its active window. The four built-in profiles cover most projects, so this is usually the quickest step.See How to Set Up Spread Profiles and Calendars.

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Finish before handing the project over

This is setup you do once, at the start, before control account managers begin entering risks.
Changing a threshold re-ranks every risk in the project immediately. Do it after a hundred risks are already entered and all of them shift risk level underneath the people who entered them. Get the bands right while the register is still empty.

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What the settings produce

Every setting above exists to serve the two pages the project team actually uses:
  • The Risk Register, where risks are written, classified, and tracked.
  • Risk Analysis, where the Monte Carlo simulation turns those risks plus estimating uncertainty into cost and finish-date distributions.