Settings and frameworks

Risk frameworks

A risk framework defines the probability and impact scales used to assess risks. It determines the number of levels, category names, reference values, and how scores map onto the risk matrix. You must configure a framework before you can assess risks.

Selecting a framework

Open the Risk framework dialog from the project setup card. You can reuse a framework from another project or create a new one. If your team already has frameworks, they appear in the dropdown.

You can assign a different framework to each project phase. Select the phase tab and pick the framework that applies. If no phase-specific framework is set, the default framework is used.

Configuring framework levels

Each framework has three scale dimensions. You set the number of levels (3 to 6) for each:

• Probability levels define the likelihood scale (e.g. Minor, Moderate, Extreme).
• Impact levels define the consequence scale across all impact perspectives.
• Risk score levels define the output categories that combine probability and impact.

Reference values

Reference values attach numbers to each category name. For probability, you set percentage thresholds. For impact, you set values per perspective (direct financial impact, schedule impact, schedule-related cost).

Values can be static (fixed amounts) or dynamic (percentages relative to a project input metric). Dynamic values recalculate automatically when the input metric changes.

Matrix configuration

Choose whether the risk matrix plots probability on the X-axis and impact on the Y-axis, or the reverse. You can also calibrate the scoring table that maps each probability-impact combination to a risk score category.

Phases

Phases represent time periods within your project, such as design, construction, and operations. They serve three purposes: filtering risks by timeframe, linking risks and measures to phase dates, and applying phase-specific frameworks.

1. 1
   Open the Phases dialog

   Click the phases option from the project setup card.

2. 2
   Add phases

   Enter a name, start date, and end date for each phase. Phases are ordered automatically.

3. 3
   Save

   When you change a phase date, risks and measures with dates relative to that phase update automatically.

Expenditure classes

Expenditure classes let you group risks by budget category. Each class can define risk filters so that EMV calculations are scoped to the relevant subset of risks.

Open the Expenditure classes dialog from the project setup card. Add, rename, or delete classes as needed. Changes take effect immediately for project-level EMV reporting.

Input metrics

Input metrics store project-level values such as total budget (DevEx, CapEx), EBITDA, discount rate, and years of operation. These values feed into NPV calculations and dynamic framework reference values.

Open the Input metrics dialog from the project setup card. Add a name and value for each metric. When a framework uses dynamic reference values, it pulls from the metrics you define here.

Permissions

Project permissions control who can see the project within Risk Companion. This setting does not override team-level roles; Administrators always have access.

You can grant access in two ways:

• Entire team makes the project visible to everyone on the team.
• Specific users restricts visibility to the users you select.

Open the Permissions dialog from the project setup card. Select the access mode and, if using specific users, pick the team members who should see this project.