Deltek RiskBook
Deltek RiskBook

Even the best-laid plans can fall victim to the many threats to project completion. Curbing this risk starts with identifying and preparing for what could go wrong – a task that requires input from the people who know the project best, the project team. However, obtaining this input is not only difficult but incredibly time-consuming. Project teams need to:

  • Easily obtain team-consensus on risks and their severity
  • Collaborate, making sure each opinion is heard
  • Access information anytime, anywhere and from any mobile device

Deltek RiskBook provides the opportunity for true collaboration—the ability to collect knowledge from, and include, all team members—in order to establish a more accurate picture of project and/or corporate risks as well as the impact each risk could have. It’s designed to be used by planners and by non-planners, so the experience and expertise of all key team members gets included. RiskBook then rolls all of this expertise up into a weighted average, immediately calculating the team's consensus on each risk.

Collaborative. Current. Convenient.

RiskBook stops team input from getting lost in translation by providing clear options for the probability of each risk occurring along with the potential impact each risk will have. Each participant selects from a list of probabilities (is there a 50% chance the risk will occur, or 75%?) and impacts. Any impact type can be included, such as schedule (how much of a delay could the risk cause?), or cost (how much will this risk impact budget?). RiskBook directs participants to select from a drop down list of options – rather than asking the participant to try to calculate the potential impact themselves. The selections are mapped back to a scoring template (defined by you) so that each risk gets a severity score based on the participant's input. These clear choices make it easy for each team member to participate – and, more importantly, ensures there is consistency across the project.

RiskBook is designed to be proactive. While it provides the ability to let team members input knowledge and log risks, it also provides the ability to let team members work together to suggest risk-mitigation strategies, brainstorm opportunities for increased ROI (Return on Investment), discuss required schedule changes, and more. These conversations are then logged and attached to the project space in RiskBook for an automatic audit trail of decisions made and their surrounding discussions.

RiskBook is a cloud-based solution meaning any authorized team member at any location can access RiskBook at any time. Remote employees in any location can provide input to the risk register without needing to travel – or clear their calendar for lengthy meetings. RiskBook is automatically updated with this input so that the risk register can live and breathe right along with the project – unlike static spreadsheets which are perpetually out of date.

A risk management process that includes RiskBook benefits from increased accuracy through collaboration, decreased time wasted through efficient workflows, and readily-available, easily-accessed information.

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