Child Risk

A risk that is not in a nested structure or is nested beneath another risk is referred to as a child risk. Each constituent risk offers detailed information about a specific uncertainty and its effects upon the enterprise. These low-level risks are the only risks that are eligible to be mitigated. The screenshot below uses a notional set of data.
Child Risk

Info Section

1. Info Section
The Info section contains basic information about the risk. This data displays in the Outlook Bar, once saved, in the format of “identifier scope (status) – name”.
  •  Identifier: optional alphanumeric label for a risk
  •  Name: an easily identifiable moniker for a specific risk
  •  Description: a brief statement of the risk
  •  Scope: the type of risk item (e.g., Concern, Risk, Issue)
  •  Status: the approval status of the risk (e.g., Draft, Proposed, Approved)
  •  Notes: an extra field for documentation, not visible in the Risk Viewer pane

Data Section

2. Data Section
The Data section contains specific information about the risk.
  •  If Statement: the specific trigger event or condition
  •  Then Statement: the impact to an objective if the trigger happens
  •  Root Cause: the reason the trigger happens
  •  Consequence if not Implemented: the overarching implications to the enterprise if the risk is not addressed
  •  Risk Model: determines how the risk is displayed in the Risk Viewer pane
  •  Handling Method: identifies the potential ways to address the risk

Associated Risks Section

3. Associated Risks Section
The Associated Risks section contains a reference field allowing risk relationships to be documented. The Risks lists is populated with all other risks in the same architecture.

Risk Section

4. Risk Section
The Risk section defines specific attributes of the risk. These fields determine the drop-down menus available for the mitigations; if they are left blank, the mitigation menus will be empty.
  •  Risk Type: annotates the kind of risk being documented
  •  Likelihood Category: defines the likelihood metrics for assessing the risk
  •  Consequence Category: defines the consequence metrics for assessing the risk

Date Attributes Section

5. Date Attributes Section
The Date Attributes section is the time horizon for this risk.
  •  Valid From: when the risk was first identified
  •  Valid Until: when the risk will no longer be applicable


6. Save
Click Save when you are finished editing the sections; this writes the data back to the database. A reminder warning pops up to remind you to save if you try to navigate away from the risk while it is still in edit mode.
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