8.2. Execute Risk Assessment

Once the specified Start of Assessment Period date is reached or if the assessment is triggered immediately, the assigned lead risk assessor will be notified via their Pending Tasks to execute the risk assessment.

*An email notification will also be sent to inform them of the assigned task. For more information on email notifications and their role in the application, click here.

Clicking on either the subject in Pending Tasks or the button in the email will direct users to the Execute Risk Assessment form. In this form, users can identify and evaluate risks using various analysis tools, document their findings, and add action items for risk treatment, ensuring comprehensive risk management.

*For guidance on common form functions, please refer to the dedicated section in the manual.

1. Assessment Reviewer: This is a single-select dropdown field that retrieves the list of users, roles, and groups in the system. It is a mandatory field. It allows for the selection of the user, role, or group responsible for reviewing the risk assessment.
   
   *

   By default, the selected reviewer is the Risk Manager, a role to which users and groups can be assigned.

   • If the role ‘Risk Manager’ does not exist in the system or if it exists but has no user or group assigned to it, this field will be empty.
     
     • Roles can be created and managed in the Roles tab of the Organization Management (Admin) application.
2. Risk Assessment: This section of the form allows users to analyze and evaluate risks within the defined assessment scope.
   • It features collapsible sections, known as accordions, each designed to facilitate different aspects of the risk assessment process:
     • Risk Assessment Questionnaire (Optional)
     • Provide Analysis Documentation (Optional)
     • Risk Identification & Evaluation
3. Risk Treatment: This section of the form allows users to define actions aimed at addressing and reducing the impact or likelihood of identified risks.
   • Add: This button allows users to add an action item to the risk assessment.
     • If selected, it will display the Add Action Item form.
       • This form is a modified version of the New Action form found in the Action Items application. Although adapted for use in various contexts, it retains almost all the original fields and functionalities.

       • Add Action Item – Key Form Features

         When the Add Action Item form is adapted for use in the Risk application, several configurations are applied automatically.
         

         
         

         • Source of the Action: By default, this field is set to Risk Assessment.

           **Please note that the grid for assigning a specific instance from the chosen source is not included in this form because it applies only to actions created independently. Actions generated from other application sources are automatically linked to the relevant instance.

           
           
         • Associated Risks: A multi-select dropdown, titled Risk(s) Associated with This Action, lists all risks recorded in the Risk Identification & Evaluation accordion. It allows users to select the risk(s) that the action aims to address or treat.
           

           !!If no risks have been recorded, the dropdown will be empty.

           
           
         • Form Submission Options: At the bottom of the form, users have access to the following options:
           
           
           
           • Save and Return: This button saves the action item and returns users to the Execute Risk Assessment form.
             
           • Save and New: This button saves the action item and opens a new form to create another action item.
           
           

         **As actions are added, they populate the grid. To perform additional customization and review, users can either click on the Edit ( ) icon beside each action or double-click on the action itself.
         
         

4. Ready for Review: This button allows users to submit the risk assessment for review.
   • The assigned reviewer will receive the Review Risk Assessment task.
     

     **If the assigned reviewer is the Risk Manager, the task will be sent to the Pending Tasks folder associated with that role.