First Steps
1. Initiations Criteria Checklist
2. Contact the ERM Team to Get Access to WDesk
Continue to the Identification Steps
1. Initiations Criteria Checklist
Once the context is defined, a project or business leader initiates the ERM process by completing the Initiations Criteria Checklist. The checklist includes basic project / business information and provides guidance to users, based on their responses, whether WDesk or the Excel Risk Register Template should be used manage risks.
The Evaluation Weighting % are recorded in the initiations checklist.
When we assess the Impact of a risk we look at 3 factors:
- The commercial impact
- schedule impact
- The reputational impact
The score for each risk is assessed by the risk owner/team and they are combined to give one overall impact score -
the calculation to combine them into one score applies a percentage weighting to each one. The
weightings can be changed at the reporting level (project, program or business) to accurately reflect the unique nature of the project, programme or business and the critical factors.
The sum of the three percentages must equal 100%
C% + S% + R% = 100%
C% - Commercial impact weighting
S% - Schedule impact weighting
R% - Reputation impact weighting
For example, a schedule driven project with a guarantee and damages for delay would weight schedule high in the calculation but a first-time project with a future key customer might weigh reputation higher.
At the start of each risk management process the weightings must be established that will drive the background calculation of Impact that feeds into risk ranking. Changes to the weightings are possible but should be avoided.
Go to WDesk
Download the Risk Management Template here
WDesk
WDesk is a cloud based platform provided by Workiva that KBR uses to manage risks across the KBR enterprise. The platform enables live tracking and management of risks including the associated action plans. Easily configurable risks reports can be developed to suit specific requirements.
Excel Risk Management Template
The Excel ERM template can be used in place of WDesk where the 'Initiations Criteria Checklist' has indicated it is appropriate to do so. The template contains the same data fields as WDesk.