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How to create and update a Risk

Applies to user roles: Account Owner, Manager, User

Available on platforms: Vatix Workspace web app

Recording a Risk in Vatix gives it a named owner, a status and a review date, so it stops sitting in a spreadsheet and gets looked at when it should be. You can create a Risk the moment you hear about it with nothing but a name, then fill it in and keep it current as the picture changes.

For what the Risk Register holds and how the whole module fits together, see 'Getting started with the Risk Register'.

How to create a Risk

  1. Go to 'Risk Register' in the left sidebar.
  2. Click 'New' in the top right.
  3. Enter a name in 'Risk Name'.
  4. Click 'Create'.

The new Risk opens on its own record, with an ID assigned automatically and its status set to 'Open'. Its owner, review date and description are empty until you add them, and it is unscored until you rate it.

How to update a Risk

A Risk record is edited a section at a time, so you can change the details without touching the scores.

  1. Go to 'Risk Register' in the left sidebar.
  2. Click the Risk you want to update. Its record opens on the 'Details' tab.
  3. Click 'Edit' on the 'Risk Information' section.
  4. Update the fields you need.
  5. Click 'Save'.

A confirmation message appears once the Risk is saved.

What to put in each field

Field What to put in it
Name A short, descriptive name for the Risk
Owner The person accountable for managing it. Start typing to search your organisation's people
Status Where the Risk has got to: 'Open', 'In progress', 'Mitigated', 'Accepted' or 'Closed'
Next review date The date the Risk is next due to be looked at. Pick it from the calendar
Description A fuller explanation of the risk and how it could materialise

The ID is assigned by Vatix when the Risk is created and stays with it. Any fields your organisation has added through Field Manager appear in the same section and are edited the same way.

Move the status on as the work progresses, for example to 'In progress' once controls are being put in place, then to 'Mitigated' or 'Accepted' when the Risk has been dealt with, and 'Closed' when it no longer applies. Because status is a field on the Risk, you can filter the register by it to work through your open Risks.

Note: Changing the status doesn't change the scores. If your controls have moved the Risk, update the residual rating as well, so the register reflects where it stands.

How to add a control to a Risk

  1. Open the Risk.
  2. Select the 'Controls' tab.
  3. Click 'Add control'.
  4. Choose a control from the list. The list is grouped by category.
  5. Check the control's details, then click 'Add control'.

If the control you need isn't in the list, click 'Can't find it? Add it in the Controls library'.

The control's status, owner and due date come from the 'Controls library'. They are the same on every Risk the control is on.

Account Owners and Managers can add controls to a Risk.

Who can create and update Risks

Anyone holding a Risk Register licence can create and edit every Risk in your organisation, whatever their role. Deleting a Risk is the one action that depends on your role. See 'Getting started with the Risk Register' for the full picture.

What to do next

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