How do I enable and Configure Risks & Issues Management at Key Result Level in Profit.co?

Category: OKRs

In Profit.co, you can enable Risks & Issues Management at the Key Result level to proactively identify potential problems and track existing challenges that may impact your objectives

What is Risks & Issues Management in Profit.co?

Risks & Issues Management allows you to identify, track, and mitigate potential problems (risks) and address existing challenges (issues) at both Objective and Key Result levels in Profit.co.

How do I enable Risk Management in Profit.co?

Follow these steps to activate the Risk Management feature:

Step 1

  • Go to Settings from the left navigation panel.
  • Select OKRs, then click on Authoring.
  • Switch to the Risks and Issues tab.
  • Enable the toggle to activate the Risk Management feature.

  • Switch to the Issues tab.
  • Enable the toggle to activate the Issue Management feature.

Once enabled, the Issue Management feature will be available across all Objective and Key Result levels.

What can I configure in Risk Management?

The Risk Management feature offers comprehensive configuration options:

Configuration Option Purpose
Risk Statuses Track the current state of each risk
Risk Responses Define how to respond to identified risks
Risk Impact Scores Measure the severity of potential risks
Probability Levels Assess the likelihood of risk occurrence
Risk Level Matrix Visualize risk priority based on impact and probability

What can I configure in Issue Management?

The Issue Management feature provides essential configuration options:

Configuration Option Purpose
Priority Levels Define urgency of issue resolution
Issue Statuses Track the current state of each issue
Issue Types Categorize issues for better organization
Ownership Assignment Assign accountability for issue resolution

What's the difference between Risk and Issue Management?

Risk Management Issue Management
Focuses on potential future events Focuses on current problems
Preventive approach Reactive approach
Uses probability and impact assessment Uses priority and severity levels
Tasks associated for mitigation Tasks associated for resolution

How do I add and manage Risks?

Follow these steps to add risks to your OKRs:

Step 1

  • Go to OKRs from the navigation panel.
  • Choose the Objective or Key Result where you want to add Risks. (In this example, let’s see how to add risks at the KR level.)

  • Click on the View Details page.
  • Switch to the Risks and Issues tab.

Step 2

  • In the Risks section, locate the option to add a new risk.
  • Enter the risk name (a clear description of the potential event).
  • Select the Impact level (how severely it would affect the project).
  • Select the Probability level (likelihood of occurrence).
  • Click Create.

Note: To associate tasks with this risk, choose the relevant tasks. Tasks associated with risks are used for mitigation purposes, helping to prevent or reduce the likelihood of the risk occurring.

How do I add and manage Issues?

Follow these steps to add issues to your OKRs:

Step 1

  • Switch to the Risks and Issues tab.
  • In the Issues section, locate the option to add a new issue.
  • Enter the issue name (a clear description of the problem).
  • Select the Type (category of the issue).
  • Select the Priority level (urgency of resolution).
  • Click Create.

Note: To associate tasks with issues, select the relevant tasks. Tasks associated with issues are used for resolution purposes, helping to address and resolve the problem after it has occurred.

Best practices for Risks & Issues Management in Profit.co

  • Enable both Risk and Issue Management features to maintain comprehensive oversight of your OKRs.
  • Clearly define risk impact scores and probability levels during configuration to ensure consistent assessment.
  • Use descriptive names for risks and issues to make them easily identifiable by team members.
  • Associate relevant tasks with risks for mitigation and with issues for resolution to maintain clear accountability.
  • Review and update risk statuses regularly as circumstances change throughout the project lifecycle.
  • Prioritize issues based on urgency and impact to ensure critical problems are addressed first.

Related Questions

To learn more about how to create OKRs in Profit.co, click here

Frequently Asked Questions

Q1. Can I enable Risk Management without enabling Issue Management?

Yes, you can enable Risk Management and Issue Management independently based on your organizational needs.

Q2. Where can I access the Risks & Issues feature once enabled?

Once enabled, the Risks & Issues feature is available at both Objective and Key Result levels throughout your OKRs.

Q3. What's the difference between tasks associated with risks versus issues?

Tasks associated with risks are for mitigation purposes (preventing problems), while tasks associated with issues are for resolution purposes (fixing existing problems).

Related Questions