Manage Risks
Last updated
Last updated
Utilizing the configured Risk Model for the Registry, you can calculate the Rating for each Risk, opt for an action plan to mitigate the Rating, assign a Collaborator to oversee the plan, and subsequently recalculate the Rating post-implementation of the action plan.
In the image below, on the right side, the selected Risk's "Manage" tab is visible.
To obtain the Initial Grade Rating for our Risk, we selected its Probability and Impact, resulting in a Medium Rating, as highlighted by the arrow below.
The Rating is determined by the assigned Model, offering valuable insights and understanding.
From the Risk Treatment drop-down menu, choose a plan of action to mitigate and reduce the Risk's Rating.
After selecting the Plan, proceed to appoint a Collaborator to oversee its execution, set a scheduled date for implementation, and outline the necessary actions required to achieve the risk reduction plan.
The final step involves calculating the Residual Grade.
Upon implementing the risk-reduction plan, select the estimated Probability and Impact scales for the Risk. Subsequently, observe the Rating for the Risk after the completion of the plan.
On the Registry page, you can now view each Risk along with its initial Rating and the subsequent Residual Rating after the risk-reduction plan has been implemented.
An alternative for viewing and editing a Risk is the Table view toggle button, highlighted by the arrow below.
In the Table View, you can input all Risk information, including its name, description, Initial and Residual Risk Analysis, and the Plan of action.
Scrolling through the Table view, you can access all available Table actions, including options for assigning a Plan Owner and utilizing the Scheduler.
To return to the
To return to the
