Overview12

Overview

The Risk Management area provides users with the ability to identify the three types of risks: Strategic, Operational and Project. Your organisation may use one or all of these levels. Refer to your internal risk management framework for further details.

The risk management menu consists of the following pages which would allow you to view, search/filter, add and manage risks in your organisation.

Strategic Risk Register
Operational Risk Register
Project Risk Register
Risk History
Risk Control Register

Risk Management module has three stages of risk reviews: Initial, Current and Future.

· During the Initial Risk Assessment, a risk is identified and subsequently analysed by considering the likelihood and consequence of the risk. This gives a risk its Initial (or Inherent) Risk Rating

· Existing controls are identified and evaluated by undertaking a Current Risk Assessment to determine the Current (or Residual) Risk Rating.

· Future risk assessments anticipate what the current risk will be after proposed risk actions/solutions have been completed.

· Risk solutions are mitigating tasks or actions that can be undertaken by an organisation to further minimise the likelihood or consequence of a risk. This may also be known as a risk treatment plan.

You can access the Risk Management menu from the top Menu Navigation icon drop down:

Note: the “Risk Register” area can also be accessed from your home page side welcome panel for easy access.

Last revised: September 23, 2018