Who is this article for?

Users who want to learn about Adding a Risk

Elevated permissions are not required.

This article outlines and overview of the Processes and Sub Processes within Risks, Controls and Tests.

1. Adding a Risk
2. Further Reading

1. Adding a Risk

1. To add a new Risk select the Create New Risk icon  

2. The user has the option of choosing to either Create new Risk or Import a Risk from elsewhere in the system. For example from other templates, audits or the Risk Register

3. The user has a number of search options available to refine their search. For example, the user can enter a Name of a risk like Flood Prevention and then select Start search

4. The user can search using the Entity Universe to search for Risks attached to certain elements of the Universe for example

• Region 3
  • Division C
    • Entity XXX

5. Select Start search

6. The user can also make changes to the way items are grouped on the right-hand panel by selecting Change grouping

7. The default setting is Originating section > Equivalent name. Each of the views are set out below with the exception of the default as this is seen earlier

• None (flat list of results)

• Original section > Equivalent name > Work Programme / Template

• Equivalent name

• Approximate creation date

• Custom grouping

8. Select Custom grouping to open the following window

9. The user can then select the drop-down arrow to select the groups to add

10. Once selected click on the plus icon

11. By selecting one of the custom groupings the user will then be able to move items up and down, or remove into the desired order as illustrated above.
12. The user can also tick the check box Try to group risks, templates etc. by matching name if necessary.
13. Select OK to show the custom grouping
14. Select Start search

15. There is a further option to Hide items already imported to avoid any duplication of importation of risks as highlighted above
16. If Create New Risk is selected this will activate a Risk Editor window

17. In the Description field document an individual Risk and choose from a priority using the drop-down list.
18. Please note Risk Priority is an optional setting within System Configuration and the options within the list can be configured by navigating to
    1. Tools
    2. Configuration
    3. Defined Lists
    4. Risk Priority
19. This is also supported by a setting in
    1. Tools
    2. Configuration
    3. System Configuration
    4. Work Programme Templates
    5. Work Programme Template Design Settings
    6. Risk Priority. This must be selected so that the risk option becomes available for use.
20. Select OK

21. The risk entered will now appear in the first column of the Work Programme
22. When a Risk is added the other tools on the risk toolbar will become active. In addition to creating new Risks the following actions can be undertaken

• A Risk can be deleted   if required. Deleting a Risk will also delete any associated Controls and Tests
• The Risk editor can be reopened by selecting the the   icon.
• The order of the Risks can be changed using the     arrows.

23. To add multiple Risks repeat the same process.
24. The user also has the option to include inherent risk within the Work programme Template that can be activated within
    1. Tools
    2. Configuration
    3. System Configuration
    4. Work Programme Templates
    5. Risk Assessment
    6. Support Risk Assessment at Template Design stage
25. If activated this will appear with the Risk Editor window

26. To edit the Inherent Risk select Edit

27. The Inherent Risk editor window will appear, and the impact and likelihood can be populated using the defined scale within

    1. Tools

    2. Configuration

    3. System Configuration

    4. Work Programmes

    5. Work Programme Risk Assessment Settings

28. This will then be available for use within the Audit work module and will be applied when calculating the ‘Residual Risk’ score in the Work Programme

2. Further Reading

1. Adding a Control
2. Adding a Test
3. Text Field
4. Linked Files