Steps to install risk register software
Step 1 – Download and set up software
Download software to your local or network drive and install. Please note: Users must have Java installed and enabled.
Step 2 – Enter business and risk context
Click on the 'Set up risk context' button to customise:
- consequence descriptions (pre-defined categories)
- business units
- organisational strategy
- risk owners.
The fields have been populated with generic examples that you can use or customise. Any changes you make will be automatically saved as you exit a screen or the program.
Step 3 – Record risk information
Click on the 'Add/Edit Risks' tab, to record information about a particular risk. While not all information will be available initially, we strongly advise that all fields are completed in due course.
Four main sections of information for each risk are recorded:
- Risk Identification – details of the risk, its causes, and impacts, together with information on the business objective, and/or business units it threatens.
- Risk Controls – information on current controls and a rating of effectiveness of controls. Supporting documents can be attached.
- Risk Assessment – categorise risks and score the consequence and likelihood for the risk after considering the effectiveness of current controls (residual risk).
- Risk Treatment – information on planned risk treatments, responsibility for their implementation, and status information on treatment plan implementation.
Step 4 – Select and generate reports
Click on the 'Reports' tab to view a list of pre-defined risk reports. These reports will be automatically generated when you choose the report parameters and click ‘generate’. The reports are based on the risk information entered in the database. Failure to fill in all fields in the 'Add/Edit Risks' will result in incomplete risk reports.