Thanks to an awesome hackathon project by one of our developers, we are adding risks as a new work item type in Agile Central! We will be starting a beta for these work item types in the near future, so respond to this Community post if you're interested in trying it out.
This new work item type will allow you to track risks in Agile Central alongside all of your other work. You can ROAM risks from your planning meetings, link them to your portfolio items or add them to a release, and add tasks to tackle the actions related to the risk.
How To ROAM Risks
Rather than developing a specific ROAM board to allow you to ROAM your risks (aka setting the Resolution to Resolved, Owned, Accepted or Mitigated), we recommend using either Work Views, a custom list, or a custom board. To set this up with a custom board, create a custom page for ROAMing risks, add a Custom Board app from the app catalog, and use the app settings to make it display risks using the Resolution for the columns.
Once this is done, you can use this board to create risks and to ROAM them in your planning events.
Creating risks can be done in several places in Agile Central:
In Work Views
To create risks in work views, use the + Add New button, then select Risk as the work item type. You can use the Create or Create with details button to create the risk.
In the Portfolio Item/User Story Collection
To create multiple risks associated to the same portfolio item or user story, you can go to the risk collection on the PI/US through the Quick Detail Page.
From here, you can use the + Add New button to create new risks or choose existing risks to associate to the PI/US.
Calculated risk is a measure of the severity risk that is based on the impact multiplied by the probability. You can use this value to determine which risks need to be mitigated. This chart shows the severity of calculated risk based on impact and probability.
With this information, your organization can make decisions about which risks to mitigate, which ones to plan for, and which ones to monitor or accept. Here is an example matrix for how you could use calculated risk to determine the actions to take.
Size of Loss and Exposure
Exposure is another measure of risks that can be used to help determine what action to take on that risk. Exposure is calculated by multiplying the planned loss of time based on the size of loss (in days) by the probability of the risk. As the PI moves along, the exposure should burn down as the chance of risk is reduced or as mitigating actions are taken.