STOP LIGHT CHART
What Is It
Stoplight charts provide a means of showing status of
risks using color displays. Typically, red, green, and
yellow (stoplight) colors are used to indicate
mitigation action status or risk impacts, depending on
items defined by the project. Conditions as to what
constitutes red, green, or yellow status must also be
defined (and included in the chart for quick
reference).
When To Use
Use this tool
- To provide decision makers a general indication
of how plans are doing and whether or not (more)
action is required.
- To supplement information to any risk management
status tracking chart.
Benefits
This method
- Is simple and quick to apply.
- Focuses attention on important risk items or
plans that are not working.
- If used with an indicator of its progress, will
illustrate the plan's history and immediate
progress (if an item has gotten better or worse). A
good indicator is an upward arrow (or downward arrow)
to indicate stoplight status has gotten better (or
gotten worse) since last report.
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