3 Steps To Tracking and Mitigating Project Risk in Jira

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How to Handle Jira Project Risks

Project risks are anathema to a successful project. So, unsurprisingly, many project managers (PMs) spend hours meticulously planning to avoid risks entirely. 

However, risks are like death and taxes: you can’t escape them. At most, you can only minimize their impact through effective risk management. This requires PMs to identify, track, and mitigate project risks which will ultimately enable them to control their impact.

If you want to learn more about Jira risk management, read on!

What Types of Project Risks Are There?

It would fill up an entire book if we listed every type of project risk there is. That said, here are the most common:

Siloed Communication

Ineffective communication among teams is one of the heaviest hitting risks any PM faces. If not addressed properly, it can lead to misunderstandings and duplicate work, thus negatively impacting the overall quality of work and workplace morale. 

Scope Creep

Scope creep occurs when insufficient attention is given to monitoring and controlling a project's scope after initiation. The cause can often be undocumented changes and accepting last-minute client requests without properly considering their effects. 

Poor Resource Planning

PMs must ensure a project stays within its means in terms of resources (e.g., money and time). Poor planning will result in overstretched resources– also a consequence of scope creep and siloed communication– and will inevitably affect the course of the project.

How Do We Track Project Risks?

Tracking risks in Jira is easier than you think. Here’s how PMs can do it in 3 easy steps:

Step 1: Setup Risk Issue Types

Every Jira project allows PMs to create new issue types (e.g., epics, tasks, stories) and workflows that can be adapted to any project. 

 

Jira allows PMs to create issues as risks freely

To track risks, click on the project sidebar, then select Project Settings, followed by Issue Types. You'll then be able to Add Issue Type and fill it in accordingly based on the risk you intend to track. 

Step 2: Use Gantt Charts

On top of the above, PMs should consider using Gantt Charts in Jira. While Jira doesn’t offer this natively, the Atlassian Marketplace offers a range of solutions. These include Polscheit’s Gantt-Chart for Jira, Ricksoft’s WBS Gantt-Chart, and Soyatech’s GanttChart Project Jira.

Gantt Charts are a powerful tool that all PMs should consider utilizing

Gantt Charts provide a bird's eye view of every risk and where they fall within a project schedule. These insights are useful when assessing the urgency of the risk, estimating the resources needed to resolve the risk, and identifying any other related risks.

Step 3: Mitigate

With insights in hand, you should track the risks as Jira issues, as explained above. Once you’re done, you prioritize them just as you would any other issue so that everyone involved is aware of their presence.

On this note, apps like WBS Gantt-Chart are particularly useful because they come equipped with a vast arsenal of features including a resource allocation function that'll help PMs better plan and distribute resources to resolve any risk. Alternatively, Soyatech’s solution might appeal more to those looking for a simpler experience.  

Your Next Steps

Project risks are deadly to the PM and can derail entire projects if left unchecked. Nonetheless, while the presence of risks will always be impossible to eliminate, the best way to better deal with them is to upskill your skillset. 

So go ahead and read up on any materials you can get your hands on and experiment with the extensive range of solutions out there on the Atlassian Marketplace!