Risk Management
Risk Identification & Risk Register
Establishes and maintains the project Risk Analysis in IFS Cloud Risk Management, connecting it to a Project, Sales Contract or Sub Contract and registering potential problems together with their consequences. Each risk is classified with a Risk Consequence Type of Threat or Opportunity, forming the project risk register that is developed through the risk analysis status lifecycle.
Risk Assessment (Probability / Impact Scoring)
Assesses each registered risk in IFS Cloud by estimating probability and impact, from which the system calculates Risk Severity Rating (product of Probability Weighting and Impact Weighting) and Risk Cost Exposure / Opportunity Potential. Supports Single Point and 3-Point analysis methods and maps severity to configurable Risk Assessment Levels.
Risk Monitoring & Review
Governs the ongoing review of project risk in IFS Cloud through the Risk Analysis status lifecycle and the Next Assessment Date. When an assessment date is reached the system automatically flags the analysis as Waiting Analysis, prompting the risk owner to re-open, re-assess and re-confirm, incrementing the revision and updating Risk Cost Exposure history until the analysis is Closed.
Claims & Extension of Time Management
Manages entitlement claims for time and money arising from employer risk events - notification within the contractual time bar, contemporaneous record capture, delay analysis, quantification of prolongation and disruption, submission and tracking through to award. In IFS Cloud the claim is anchored to the Project and the affected Project Activities, with the evidence pack held in IFS Document Management. Distinct from Variation & Change Order Management (P6.C41), which handles instructed change; this process handles disputed or asserted entitlement.
Risk Register & Contingency Management
Runs the project risk register alongside the contractual early warning register, quantifies exposure, sets the contingency allowance inside the project budget and controls its drawdown as risks crystallise. In IFS Cloud the contingency sits as identifiable budget on the Project and Project Activity structure so residual exposure and remaining contingency can be reported together each period. Feeds the claims process (P5.C45) when a risk becomes a notified event, and the cost value reconciliation (P4.C43) when contingency is released to cost.
Everything you can see here is real and current, the names, the structure and the counts come straight out of the ModelIFS library and change as it grows. What sits behind the license is the worked-out content itself: the execution steps, the data each one needs, the configuration decisions, the KPIs, the integration points, the workshop questions and the diagrams. That is the part you would otherwise spend a program building from nothing.
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