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Risk Based Graded Approach Analysis

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A very quick risk based "graded approach analysis" is used to determine requirements for planning and control the the project work effort. This analysis can maximize project control effectiveness at the lowest cost and assist in identification and mitigation of project risks.

The graded approach analysis is a management tool used to:

1. Determine where to assign what PM resources;
2. Helps define scope of Project;
3. Evaluate risk elements based on risk (vs. cost of project); and,
4. Get agreement from all members of the project team.

The "Graded Approach Worksheet" should not take the project team very long to complete, even on the most complex project. The "Graded Approach Worksheet" is completed as part of the Initiation Process with the total Risk Score being documented in the Charter and Scope Statement. Completion of the "Graded Approach Worksheet" is a fast way to quantify project risk early in the project timeline and should not be used as a substitute for formal risk identification, qualification, quantification, and response planning performed during the Planning Process.

To use this tool, you can download the word version of the Risk Based Graded Approach Guidelines here and the Excel Risk Based Graded Approach worksheet.

Turnpike Office has developed a similar Risk Based Graded Approach with a different set of risk elements. The Turnpike's Guidelines and the Excel spreadsheet files can be downloaded here:

Turnpike's Risk Based Approach Guidelines in MS Word Format Turnpike's Risk Based Graded Approach worksheet in MS Excel format.