Actions
Risk Register {{{level}}}
RR
Risk Register
A Risk Register or Risk Log is term describing a master document or database used as a central repository for information regarding risks, qualitative analysis and mitigation of risks. A Risk Register provides an organization's risk management stakeholders the current status of each t:Risk, at any point in time.
Typical data elements of a Risk Register include:
- Dates: This includes dates for milestones like: Discovery date, Mitigation Target date, Mitigation Completion date.
- Risk ID: A unique identifier for the risk.
- Risk Description: A brief description of the risk, its causes and its impact.
- Probability: The likelihood the risk event may occur. This may be done based on scaling (e.g. 1-5, with 5 most severe) or based on statistics (e.g. 1 out of every 10,000 transactions)
- Impact: The consequence of the risk event occurring. This may be done based on scaling (e.g. 1-5, with 5 being most severe) or based on quantification (e.g. revenue drop by 75%).
- Key Risk Indicator (KRI): Overall quantification of the risk; determined by multiplying Probability by Impact.
- Risk ranking: A priority list which is determined by the relative ranking of the risks by their overall risk score.
- Risk Avoidance Strategy: A description of the actions (to be) taken to reduce the probability of an occurrence of the risk event.
- Risk Mitigation Strategy: A description of the actions (to be) taken to reduce the impact of an occurrence of the risk event.
- Risk Alerts: A description of the indicators or signals which alert that a risk is about to occur (or has already occurred).
- Risk Owner: The role or individual responsible for establishing and observing alerts, managing risk response, and periodically assess the risk and its mitigation.
Process(es)
| ID | Name | Level | x |
|---|---|---|---|
| G3 | Manage Supply Chain Risk | 2 | G3 |
| G302 | Identify Risks | 3 | G302 |
| G303 | Analyze Risks | 3 | G303 |
| G304 | Evaluate Risks | 3 | G304 |
| G305 | Treat Risks | 3 | G305 |
Connections
| From | Workflow | To |
|---|---|---|
| G302 | Risk Register | G303 |
| G303 | Risk Register | G304 |
| G304 | Risk Register | G305 |
"{{{level}}}" is not a number.
Risk, Management, Document, Register, Log, Mitigation, SCRM A master document or database used as a central repository for information regarding risks, qualitative analysis and mitigation of risks