Project Register Events

The Project Register houses all events pertaining to the project. These events are used to notify schedulers of potential project ideas, changes, opportunities, threats, and issues.

Event Types

There are several Event types available in the Project Register. Of the available events, the following three are focused on: Idea, Opportunity, and Threat.

Idea

Ideas are events that do not necessarily yield a positive or negative schedule impact. Often, ideas are schedule notes regarding an activity. They might have a favorable or unfavorable outcome in the schedule and can be replaced with a Threat or Opportunity event if circumstance dictates it.

Opportunity

Opportunities are events with the potential to yield a favorable schedule outcome such as time savings or cost reduction.

Threat

Threats are events that may occur, posing possible schedule delays or increased cost on the project.

Event Values

When assigning an event to an activity, there are three additional fields to be populated depending on the type of event: Probability, Duration and Cost. These fields vary from event type to event type and not always need to be filled out. However, it is in the best interest of the team input as much information as possible for the Risk Analysis to be conducted.

  • Probability: Likeliness of the listed event to occur and impact the schedule.
  • Duration: Estimated days increased or decreased due to the event
  • Cost: Estimated cost associated with the event
  • Score: System generated value based on the Probability, Duration, and Cost Factors involved

Event Values

Events Library

In the Project Register Events Library, all events on the project and from the Knowledge Library are listed. These events can be selected and assigned to activities.

If a new event is to be created, the Project Register has an input field for new events.

Step by Step — Create an Event

  1. To open the Project Register Events Library from the Markup Screen, click on the Sticky note icon of the activity or planning package the event will be associated to.

    2. This icon might be red or yellow depending on the markup provided.

  2. A new window opens with the Events Library.

  3. At the bottom of the Events Library is the Event Creation function.
  4. Click the Event Type drop-down menu to select from Risk, Opportunity, Issue, Idea and Schedule Change Request.

  5. Fill out the Event, Cause, and Effect fields. As these fields are populated, a summary of the event is shown below.

  6. Click the Add icon.
  7. Your selection now appears at the top of the window. Fill out the remaining fields (i.e. Risk - Probability, Duration, and Cost).

  8. Close when finished.

Risk Range Scoring

The score calculation for risk range scoring is: Probability "%" times the greater of (Duration "Dur" range OR Cost "$").

5 point = Very Low to Very High

7 Point = Extremely Low to Extremely High

9 Point = Ultra Low to Ultra High

Range Score
Ultra Low 1
Extremely Low 2
Very Low 3
Low

4
Medium 5
High 6
Very High 7
Extremely High 8
Ultra High 9