Configure custom Risk rank and Risk value for a project

task australia Updated Sep 10, 2026 1 min read risk-value-lookup-project.md

Configure custom risk rank and value scores (such as High-Medium, Medium-Low, or Absolute-Low) to rate the impact and probability factors for a risk.

Before you begin

Role required: pps_admin

About this task

Use the Risk Value Lookup module to set up the risk rank and risk value for a specific combination of risk impact and probability. The system uses these values to determine the degree of risk (Absolute, High, Medium, Low) based on the impact and probability factors of a risk.

The value in the Probability field is multiplied by the value of the Impact field to generate the values for the Risk rank and corresponding Risk value in the Risk form.

By default, you can use the following impact, value, and probability scores for a risk to create a risk rank and risk value score:

Absolute
Low
Medium or Moderate
High

For example, a risk might have high probability and medium impact but you might want to consider it as an overall low risk for the project. In that case, you would configure the Risk Value Matcher form with the following values:

Impact = 2 Medium
Risk Rank Color = Green
Probability = High
Probability Number = 1
Risk Value = 3 Low

Procedure

Navigate to All > Project Administration > Settings > Risk Value Lookup.
Select New.
On the form, fill in the fields.

For more information, see Risk value matcher form.
Select Submit.

Related topics

Adding RIDAC records for a project

Convert RIDAC records for a project

Associate existing RIDAC records for a project

66 lines · 3.0 KB Wrap lines

---
title: Configure custom Risk rank and Risk value for a project
description: Configure custom risk rank and value scores \(such as High-Medium, Medium-Low, or Absolute-Low\) to rate the impact and probability factors for a risk.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/it-business-management/project-management/risk-value-lookup-project.html
release: australia
product: Project Management
classification: project-management
topic_type: task
last_updated: "2026-09-10"
reading_time_minutes: 1
breadcrumb: [Add risks for a project, Adding RIDAC records for a project, Using Project Management, Project Management, Project Portfolio Management, Strategic Portfolio Management]
---

# Configure custom Risk rank and Risk value for a project

Configure custom risk rank and value scores \(such as High-Medium, Medium-Low, or Absolute-Low\) to rate the impact and probability factors for a risk.

## Before you begin

Role required: pps\_admin

## About this task

Use the Risk Value Lookup module to set up the risk rank and risk value for a specific combination of risk impact and probability. The system uses these values to determine the degree of risk \(Absolute, High, Medium, Low\) based on the impact and probability factors of a risk.

The value in the **Probability** field is multiplied by the value of the **Impact** field to generate the values for the **Risk rank** and corresponding **Risk value** in the Risk form.

By default, you can use the following impact, value, and probability scores for a risk to create a risk rank and risk value score:

-   Absolute
-   Low
-   Medium or Moderate
-   High

For example, a risk might have high probability and medium impact but you might want to consider it as an overall low risk for the project. In that case, you would configure the Risk Value Matcher form with the following values:

-   Impact = 2 Medium
-   Risk Rank Color = Green
-   Probability = High
-   Probability Number = 1
-   Risk Value = 3 Low

## Procedure

1.  Navigate to **All** &gt; **Project Administration** &gt; **Settings** &gt; **Risk Value Lookup**.

2.  Select **New**.

3.  On the form, fill in the fields.

    For more information, see [Risk value matcher form](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/demand-management/risk-value-matcher-form.md).

4.  Select **Submit**.


**Related topics**  


[Adding RIDAC records for a project](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-management/ridac-entries-for-project.md)

[Convert RIDAC records for a project](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-management/convert-ridac-for-project.md)

[Associate existing RIDAC records for a project](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-management/reassociate-ridac-project.md)