Product Management | Targetprocess - Visual management software

Identify, analyze, and respond to risks and opportunities before they become issues. Get a visual overview of all risks in the system and prioritize which items receive attention based on automatic risk factor calculations. Customize these calculations to reflect your project’s tolerance for risk, and automatically flag problem items using color-coding. Take a proactive and continuous approach to Risk Management.

What is Risk Management?

The PMI defines risk as: “An uncertain event or condition that has a positive or negative effect on a project’s objectives.” Basically, risk is any unexpected event that can affect your project — for better or for worse. Risk can affect anything: people, processes, technology, and resources.

Most people tend to think that risk implies a negative connotation. However, you’d be doing yourself a disservice if you looked at Risk Management through a pessimistic lense. In fact, you may want to take to calling it “opportunity management.” Call it whatever you want, but make sure it's being managed. Both threats and opportunities will turn into issues if they are not dealt with proactively.

An effective Risk Management system must be able to identify, quantify, and predict the impact of risks before they happen. Our Risk Management solution can help you to visualize this process, plan your responses, and continuously review, revise and improve the procedure.  

Identify and visualize risks

The first step to managing risk is to identify it. This must be a continuous process which is constantly updated to reflect market and company trends. Use the Risk Registry view to get a quick overview of all risks in the system.

Identify and visualize risks

Risk can affect anything: people, processes, technology, and resources. An essential part of dealing with risk is identifying what projects and initiatives the risk will affect. Use the Risk Related Entities board to visualize the items which will be affected by risks to help you judge the scope of potential impact.  

Risk Related Entities

Assess and prioritize

Once you have identified all risks, you must assess which items merit action. Drag and drop risks on the impact and probability scale to automatically calculate the risk factor using the calculated custom field (probability*impact) in our Risk Factor view.  

Risk Factor

Don’t get distracted by low-priority risks. Perform qualitative analysis on risks to triage which items should receive attention. Use quantitative analysis to get an idea of the potential monetary impact of risks. Coloring-coding will alert you to whether a risk needs to be managed or watched. Customize these alerts and calculations to reflect your risk criteria and your project’s tolerance for risk.

Qualitatitve Risk Analysis

Use reports to get in-depth details on risks and their potential impact. Compare the expected monetary value (EMV) of risks with the EMV of the items they affect with a Risk EMV Comparison bar graph. Use a scatter plot to visualize the probability and impact of all risks in the system to spot outliers and trends.

Risk Residual: Probability vs Impact

Plan your response

Develop your risk response plan to focus on enhancing opportunities while minimizing the potential impact of threats on project objectives. Drag and drop risks on the Risk Response view to assign responses to threats and opportunities.  Our preset risk responses (Share, Exploit, Enhance, Reject, Avoid, Transfer, Reduce, Accept, Contingency) can be customized to match your specific needs. 

Risk Response

Review, revise, improve

Use our Risk Dashboard to get an overview of the status and outcomes of your current risk response plan and quickly see where changes need to be made. Include the reports which are most useful for you, and easily share the Dashboard with customers and stakeholders.

Risk Dashboard

Remember: it's important to leverage risk by planning for threats and opportunities both early and often. Risk is not inherently negative. When risks are being actively addressed, they can be a benefit. If they are ignored, they will almost certainly have a negative effect.

“If you don’t actively attack risks, they will actively attack you.” - Tom Glib, Principles of Software Engineering Management, 1988

Use cases

  • Targetprocess is called a Leader and wins in customer satisfaction
    customers
    When customers are delighted, we feel inspired to do even more.
  • Scaling Agile at Belfius Bank
    customer story
    “We needed a tool that could support the agile delivery model. The agile way of working. And in the tool we had, this was not possible. We chose Targetprocess because…”
  • Achieving visibility and transparency across a global organization
    customer story
    Actemium helps its clients around the world to design, build and maintain their industrial installations and infrastructure.
  • Implementing SAFe to scale agile globally
    use case
    While we can't disclose the name of this enterprise, we can tell you that they are involved in the production of heavy equipment and have teams on every continent
  • The epay story
    customer story
    Before Targetprocess, epay used a mixture of tools and Excel sheets to handle daily operations. They needed a solution that could reflect the status of multiple projects, and unify teams’ efforts in one central location.
  • The CallRail story
    customer story
    "Targetprocess is the central point for our product development process. All our information is in one place. We have developers, designers, product owners, QA engineers, all looking at it."
  • Synchronizing Targetprocess with other tools
    use case
    Tasktop has used Targetprocess for over two years. The connector they develop is known as the Integration Hub, and can help you integrate Targetprocess with other tools in your stack.
  • Grakn's (mostly) Agile Methodology
    customer story
    A tale of herding software startup cats, and how Grakn customized their process to find the workflows that fit them best.
  • How we use Targetprocess at Comensura
    customer story
    "The first thing I do in the morning is open up the tool, and there’s my whole agenda for the day, complete with important details and team communications."
  • Transparency and engagement through Kaizen culture
    customer story
    SPRINT METAL is an industrial company that has customized Targetprocess to foster an environment of transparency and open communication at their factory.
  • The AOE story
    customer story
    AOE is an open source software development, integration, and consulting company.
  • The Agora Roermond story
    customer story
    Agora Roermond is an experimental high school in The Netherlands that's breaking away from the limitations of traditional education.

Experts and clients say

  • Targetprocess was recognized as a Visionary in Gartner’s “Magic Quadrant for Enterprise Agile Planning Tools” and was included in the related “Critical Capabilities for Enterprise Agile Planning Tools”

    April 2019, “Magic Quadrant for Enterprise Agile Planning Tools” *
    *Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
  • We have been using Targetprocess for more than three years by now and still been surprised when our teams find news ways and work areas to use it...
    It is really so flexible that we can nearly model and effectively use in each workflow we need. New departments request me from time to time to show them "that tool you have with nice cards :-)
    Jorge Rivero Sanchez
    Innovation Director
  • I love how adaptable and flexible Targetprocess is. It meets the various needs of so many different departments within our organization. We manage all of our IT, creative and legal workflow through Targetprocess. It's helped create a centralized location for our cross-department needs – as well as providing a history of our work.
    Katie MacCabe
    Assistant Director
  • I used Targetprocess at some very large multi-team multi-program clients and had a consistently good experience.
    I've got a lot of experience of Jira, Rally, PivotalTracker, Trello, Mingle and open source agile lifecycle management tools. I like Targetprocess better - it covers a lot more ground, the information architecture is really consistent, it's solid as a rock and fast too. Best of breed.
    Peter Merel
    CTO and Agile Coach

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