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Creating a New Risk

Audience: Risk Managers, Risk Administrators

 

1. To create a New Risk, select the New Risk tab from the side bar selection. The following screen form will be displayed:

2. Select the Risk Type - The label for Type is a hyperlink which will show the details of a Type if one has been selected from the drop list.
3. Complete the initial mandatory details (highlighted in bold):
   1. Name – The title for the Risk Record
   2. Description – Key details about the possible Risk
   3. Impact Description – Details of the impact the Risk would have should it occur
   4. Assets under Threat – Select the assets that are at Risk from the dropdown box. Multiple Assets can be associated with the Risk Record. To remove Assets from the record, select the remove icon that will be visible in the list of associated Assets below this dropdown box.
   5. In addition, if the information is already available select from the drop lists on the fields labelled Owner, Group Owner, Likelihood, Detectability, and Impact. This will set the initial Net Risk Class/Level.
4. Select the Save icon. The screen form title then changes to “Risk: Risk Name”. A set of 9 functional tabs appears above the Risk details form (see heading “Risks Details and Associated Entities” below), and the Risk record will appear at the top of the (unfiltered) Risks list (see heading “Risks List” below).
5. If any Metadata has been associated with the selected Type, those fields will appear towards the bottom of the screen form and may need to be completed.

If no values have been added to the Assessment area, the status is updated to “Submitted”. The screen form changes to that shown in the section “Risk Details - Status: Submitted” below.

If values have been selected for all three fields in the Assessment area, the Status is updated to “Under Assessment” and a calculated Level of Risk is displayed in the Assessment area. The screen form changes to that shown in the section “Risk Details - Status: Under Assessment” below.