Add a Risk Event Category to a Risk Event Analysis

Users can add multiple risk event categories to the risk event analysis for an organizational unit or process. During this creation, risk owners can rate inherent risk and set tolerable risk level for the risk event category for this specific organization or process.

1. Access the Risk Event Analysis.

   Note: A list of risk event categories associated with this organization, process, IT application, or project/event are listed, as well as the score information if an analysis has been completed.

   

2. Click Add.

   

3. Select a risk event category from the drop-down list.
4. Enter a description.
5. Click Select User or Select User Group to enter the risk event owner. There are three options:
   • Enter text that contains the name, email address or network ID of the user you wish to select and click Execute or click Show All.

     Note: A list of users containing, (not equaling), the entered text will display in the search results.

   • Click the name of the user or click Select No User to indicate the user is not required.
6. Enter up to three response strategies by selecting options from the drop-down lists. Enter any comments for each strategy.
7. Select the Insured check box if this risk requires insurance to be purchased and enter the dollar value in the amount text box.
8. Enter an insured amount and insured comments as appropriate.
9. Click Save.
10. Click Edit in the Residual Risk section.
11. Select the Inherent Risk Impact and Frequency from the drop-down list.
12. Enter a numeric value for each option.
13. Select the Tolerable Risk Impact and Frequency from the drop-down list.
14. Enter a numeric value for each option.
15. Click Save.

    Notes: The impact and frequency options for inherent and tolerable risk are based on the labels defined for the scoring model assigned to the risk event category. The numeric value options for inherent and tolerable risk are only available if impact and likelihood scales are not utilized and a numeric value was required for the scoring model associated with the risk event category. If impact and likelihood scales are utilized in the scoring model, then the risk score is calculated based on the impact and likelihood combination.