Frequently Asked Questions​

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FAQs

GetRiskManager has been built to be naturally intuitive to use.

If this is your first involvement in risk management we recommend visiting the Institute of Risk Management website and reading the guidelines provided. The guides have been written to allow anyone to assess risk. These documents are also provided in the application via hyperlinks.

A simple one to answer. Yes, it’s free

No, installation on a device is not required.

Just sign up and then login via your prefered web browser, e.g. Chrome, Safari, Edge, Firefox, etc.

Contact us about GetRiskManager or any other related question. Specific question? Contact us here.

Risk Guidance

According to ISO 31000, Risk is the “effect of uncertainty on objectives” and an effect is a positive or negative deviation from what is expected.

Risks and issues are often used to indicate the same thing. However, there is a difference. An issue is an unplanned event that was already happened and needs action to manage it.

A Risk Event could be one occurrence, several occurrences, or even a nonoccurrence (when something doesn’t happen that should have happened). It can also be a change in circumstances.

Risk Events always have Causes and usually have Impacts.

Risk Events that occur without Impacts are referred to as near-misses, near-hits, close-calls, or incidents.

A Risk Cause has the potential to give rise to Risk Event and is where a Risk originates.

Potential sources of Risk include, but are not limited to:

  • Commercial contracts, relationships and obligations
  • Legal expectations and liabilities
  • Economic shifts and circumstances
  • Technological innovations and upheavals
  • Political changes and trends
  • Natural events and forces
  • Human frailties and tendencies
  • Management shortcomings and excesses

All of these could cause a Risk Event and so must be managed.

The likelihood is the chance that something might happen.

Likelihood can be defined, determined, or measured objectively or subjectively and can be expressed either qualitatively or quantitatively.

The Impact is the outcome of a Risk Event and has an effect on objectives.

A single Risk Event can generate a range of Impacts which can have both positive and negative effects on objectives.

Initial Impacts can also escalate through cascading and cumulative effects.

Impact Categories define the area affected. These include, but are not limited to:

  • Health
  • Safety
  • Environment
  • Financial
  • Schedule
  • Performance

Control Action is a specific action that will reduce the likelihood of a Risk Event occurring.

Mitigation Action is to make the impact of a Risk Event less severe.

The status of a Control or Mitigation Action.

Represents the amount of Risk that exists in the absence of Control and/or Mitigating Actions.

Is the Likelihood that would remain after Control Actions are closed.

Is the Impact that would remain after Mitigation Actions are closed.

Is the amount of Risk that would remain after all Control and Mitigation Actions are closed.

A Contingency Plan is a course of action designed to help to respond effectively to a significant future Risk Event that may or may not happen.

The Risk Event status:

  • Closed indicates the Risk Event is no longer relevant
  • Live means the Risk Event is still a possibility

Application Guidance

Your Dashboard indicates the current status of Risk, through signatures and matrices; and the number of Open (incomplete) Control and Mitigating Actions.

A Risk Event with a negative Impact.

A Risk Event with a positive Impact.

Filters allow a focus on specific area or level of Risk.

Is the amount of Risk that is remaining.

The level of Current Risk depends upon the status of Control and Mitigation Actions.

A visual indication of Risk Events with a negative Impact.

Shown at an Inherent, Current and Residual Level.

A visual indication Risk Events with a positive Impact.

Shown at an Inherent, Current and Residual Level.

A visual indication of Risk Events with a negative Impact at the Current Level.

A visual indication of Risk Events with a positive Impact at the Current Level.

A list of all Risks Events associated with the account.

A list or calendar of all Control and Mitigation Action due dates associated with the account.

A list of changes associated with the account.

Enables account Administrators to:

  • Control User access
  • Onboard and Offboard users to the application.

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