Do you like risks? Most people would say No...as long as it’s a calculated risk. But do you know what is risky? Not identifying risks and putting some rating on them.
This is especially true if you’re in an organization and project managing activities. Don’t be that guy or gal that does that. Let your people know what kind of risks may happen to your projects. What’s better is if you can categorize them too. Like with Low, Medium, and High.
What you need is a risk assessment matrix and a nice free tool to create this is Google Sheets. I mentioned putting the Formula so here it is with the table row data starting in Row 9 and column C & D with respectively Priority and Impact headers:
=IF(OR(AND(C9 = "Low", D9 = "Low"), AND(D9 = "Medium", C9 = "Low"), AND(C9 = "Medium", D9 = "Low")), "Low", IF(OR(AND(C9 = "Medium", D9 = "Medium"), AND(D9 = "High", C9 = "Low"), AND(C9 = "High", D9 = "Low")), "Medium", IF(OR(AND(C9 = "High", D9 = "High"), AND(D9 = "High", C9 = "Medium"), AND(C9 = "High", D9 = "Medium")), "High")))
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