When you migrate to advanced risk assessment, you can view the various states of the
risks take the necessary actions. This ability simplifies your view of the risk form.
When your risk administrator enables the Migrate to Advanced Risk
Assessments property located under Advanced Risk Assessment > Administration > Properties, the life cycle of the classic or legacy risks undergo a change. You can also
initiate a risk assessment directly from the risk form.
Nota:
Once you enable this property, you
cannot disable it.
Prior to version 14.0, when the Migrate to Advanced Risk Assessments
property was enabled, the risks were only classified as either active or inactive. Starting with
version 14.0, as a risk owner, when you enable Advanced Risk,
you can view the following states of your risks.
Draft
Assess
Respond
Monitor
Retired
Figura 1. States of a risk with advanced risk assessment
All the states and the actions available for each state are explained in the following
table.
State
Description
Actions available
Draft
This is the state of a risk when a risk is created by the second line of defense or
identified by the first line of defense.
The objective in this state is to map and
identify the risk pertaining to your organization. If you modify the entity or the primary
risk assessment methodology (RAM) for a risk, the state of the risk gets updated based on
the primary RAM's latest assessment.
Save
Assess: Pushes the workflow and initiates the risk
assessment.
Monitor: If you do not want to assess the risk but want to
monitor the risk.
Retire: The risk is retired along with all underlying risk
assessment and risk response.
Navigate to assessment scope: Shortcut to risk assessment scope.
The primary risk assessment methodology is passed.
360 degree: View the complete 360-degree relationships for the
risk.
Assess
This is the state of a risk when advanced risk assessment is initiated and being
performed. If there is a response strategy, then the risk moves to the Respond state
otherwise it moves to the Monitor state once the assessment is completed.
Save
View assessment: Navigates to the actual risk assessment
form.
Cancel assessment: If you want to cancel the current assessment.
The respective risk assessor is notified about the canceled assessment.
Return to draft: Cancels the current assessments and returns the
risk to the previous state.
Retire
Navigate to assessment scope
360 degree
Respond
This is the state of the risk when the risk response task is in progress.
Once the
risk response task is closed, the risk is automatically moved into the Monitor
state
Save
Assess: Pushes the workflow back in the workflow. The
in-progress risk response task would be canceled.
Retire
Navigate to assessment scope
360 degree
Return to draft
Monitor
This is the state of the risk when the risk has been assessed and the response task is
closed.
If KRIs are defined (through Metrics), they are executed to monitor the
risk.
Save
Assess: Moves the risk back to Assess state and initiates the
risk assessment.
Retire
Navigate to assessment scope
360 degree
Return to draft
Retire
This is the state of the risk when the risk is no longer valid but the organization
wants to keep a system of record for audit purposes.
360 degree
Activate: Reactivates the risk and moves it back to Draft
state.
