Risk register frameworks

Contents: 1 Risk calculation attributes 1.1 Risk framework name 1.2 Risk score 1.2.1 Basic formula edit 1.2.2 Advanced formula edit 1.3 Metrics 1.4 Risk matrix and risk levels 2 Actions on risk calculations

Contents: 1 Risk calculation attributes 1.1 Risk framework name 1.2 Risk score 1.2.1 Basic formula edit 1.2.2 Advanced formula edit 1.3 Metrics 1.4 Risk matrix and risk levels 2 Actions on risk calculations

On the Risk register frameworks page, you can configure existing risk calculations or create new ones.

See an interactive video on how to access the Risk register frameworks page.

Risk calculation attributes

The table presents all risk calculation attributes.

Risk calculation attribute	Screenshot

Risk calculation attribute	Screenshot
Risk framework name
Risk score
Metrics
Risk matrix
Risk levels

Risk framework name

Typing a name in the field automatically updates the risk calculation row at the top.

New risk calculation name entered and it's automatically updated in the risk calculation row above.

Risk score

If the scoring calculation needs improvement, you can tweak the score formula or create a completely new one. Simple math operators such as * / - + ( ), numbers, and metrics can be used.

You can customize score formulas using the metrics included in a template. Before making any changes to the formula, ensure all necessary metrics are added to the template.

Basic formula edit

To edit a score formula:

Click in the Risk Score field.
To add a new field to the formula, start typing to see available metrics.
To change a math operator, click it and select a new one from the list.
To delete a metric from the formula, click the field and press Delete.

Advanced formula edit

If you want more flexibility when editing the scoring formula, then you can use Advanced edit mode.

Click Switch to advanced edit under Risk score.
You can edit metrics and operators.
Metrics in the advanced edit mode must be wrapped in the braces (curly brackets).
Example: {{Impact}}

Metrics

When editing an existing template, you can update the attributes of existing metrics, such as the metric’s name, value names, colors, and values. You can also add new values to existing metrics.

For new risk calculation templates, you can add two metric items.

Two empty metric items called metric item 1 and metric item 2.

Risk matrix and risk levels

You can modify default risk levels and add new ones. Define a new risk level, and assign a color and an icon. When ready, click Create.

assigning a name, icon, and color to a risk level.

You can modify the risk matrix by selecting one of the available risk levels.

Risk matrix with one of the risk levels being changed.

Actions on risk calculations

You can perform the following actions on risk calculation templates: