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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
 
1

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
2

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
3

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.
4

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
5

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

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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