Create a Risk

Add a new risk to your project using Lydaro's 4-step wizard and the cause-event-effect model.

Before you start

You need Editor or Owner role to create risks.

The wizard

Lydaro's new risk form walks you through four steps:

Step	Purpose
1 · Statement	Describe the risk: title, event, causes, effects, category, owner
2 · Assess	Score inherent probability and impact
3 · Respond	Choose a response strategy and describe the planned response
4 · Review	Set a review due date and add notes

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Step 1 — Statement

Title (required)

A short, descriptive name for the risk. Aim for at least 20 characters to score well on the quality metric.

Event description (required)

Describe what could happen and under what conditions. Aim for at least 30 characters.

AI suggestions

Click ✦ Generate to get AI-suggested risks based on your project context. Select a suggestion to pre-fill the title and event fields. Suggestions require your review.

Causes

Add one or more causes — the conditions that could make the risk event occur.

For each cause:

1. Select a category (Technical, Organisational, External, Financial, etc.)
2. Enter the cause description
3. Press + or Enter to add it to the list

Root cause: When you have multiple causes, click the circle on the left of a cause row to mark it as the root cause. Only one cause can be the root. When there is only one cause, it is automatically treated as the root.

Effects

Add one or more effects — what would happen if the risk event occurred.

Quantify impact: After adding an effect, click + Quantify to expand an impact range:

• Low estimate: The best-case financial (or other) impact
• High estimate: The worst-case impact
• Unit: The unit of measurement (e.g. AUD, days, hours)

Quantified effects contribute to your Risk Quality Score.

Owner

Select the person accountable for managing this risk. Defaults to the project owner.

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Step 2 — Assess

Select Probability and Impact from your organisation's configured scales. The inherent risk score is calculated automatically.

Add an optional Confidence % and Rationale to explain your scoring.

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Step 3 — Respond

Response strategy

Select a strategy:

Strategy	When to use
Treat	Reduce the probability or impact of the risk
Transfer	Shift the financial or operational consequence to a third party
Accept	Acknowledge the risk and decide not to act unless it changes
Avoid	Change the plan to eliminate the risk entirely

Note: For Accept and Avoid strategies, the responsible person and due date fields are hidden — these strategies do not require active action items.

Response description

Describe what will be done. Responses with 30+ characters score better on the Quality Score.

Responsible person and due date

For Treat and Transfer strategies, assign a responsible person and set a due date.

Due date shortcuts: Click 1w, 2w, or 4w to quickly set a date 1, 2, or 4 weeks from today.

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Step 4 — Review

Set a Review due date to schedule when this risk should be re-evaluated.

Date shortcuts: Click 1 day, 1 week, 2 weeks, or 4 weeks to quickly set a date relative to today.

Add optional Notes for any additional context.

Review the Summary to confirm all details before saving.

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Saving

Button	Action
Save as draft	Saves the risk in Draft status
Save risk	Saves and sets status to Identified

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Writing good risks

The cause-event-effect model helps you write clear, actionable risks:

Field	Question	Example
Cause	Why might this happen?	Competitive market for engineers
Event	What is the risk?	Lead engineer leaves mid-project
Effect	What would the impact be?	Project delayed 4 weeks

Tip: Be specific. "Technical risk" tells you nothing. "AWS region outage during peak launch period could make the app unavailable for 2–4 hours" is actionable.

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After creating

Next steps:

1. Assess the risk — add a residual assessment after controls are in place
2. Add a response action — break the response into tracked tasks
3. Schedule a review — record that the risk has been reviewed