iPE Help

What is a Risk Mitigation Plan

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Explains how to mitigate or control a risk including creating a mitigation plan

Risk Responses

Once a risk has been set-up and assessed, the next action is to enter a risk response. One of the more common responses is to mitigate or control the risk's impact, or probability of occurring, through a plan.

From the RESPONSE tab in your risk select mitigate or control as the response. You will be presented with an initially empty table to list the mitigation tasks.

Click on the text "click here to add" to enter your first mitigation plan task, or on the + button next to any task if there are already mitigation tasks and you need to add more.

 

Entering Mitigation Tasks or Task-lists

For each task in your mitigation plan enter the following information

  1. Use the +/- buttons in each row to add or delete mitigation plan tasks and their associated resources
  2. Click on the description cells to enter or edit the task description. There is no limit on the amount of text you can enter
  3. Select or enter the planned start date for this task. You can also add columns for the finish date and duration
  4. Select or enter the owner who is responsible for completing this task. Type in 4 or more letters to search
  5. Each mitigation plan task can have several resources assigned. Click on the pencil to edit the resources for that task
  6. Alternatively you can manually edit the estimated cost to carry out that task.

If you mitigation plan task comprises labor, material, travel and other direct costs then calculate the total cost offline (in a spreadsheet) and enter it direct as the task cost, copying in the spreadsheet or comments about how the cost was calculated into the task remarks

Planning Mitigation Task Resources

To enter one or more resources for each mitigation plan task click on the pencil at the right or in the resources column. You will be presented with a popup where you should:

  1. Click the + or "click here to add" to enter your first resource
  2. Select or search for the resource who is completing this task
  3. The start and finish dates are carried through from your task. Edit these dates if required for example if the resource is not needed for the entire duration of that task
  4. The duration is calculated automatically based on number of working days between the start and end dates
  5. Either enter the effort directly (and the system calculates the number of full-time equivalents for information) or enter the number of FTE or full-time equivalent staff required. The system will calculate effort as duration multiplied by FTE input
  6. The rate/hr for each resource comes from SAP. The total cost is calculated automatically as rate/hr multiplied by effort
  7. All the costs for your resources are summed up to the total at the top and then transferred back to your task cost, which is even editable should you need to incorporate other costs.

Once you have completed your mitigation plan the total plan cost, the target or forecast cost impact, and the return on investment for your plan, is automatically calculated. You can also complete plan tasks as they are executed.

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