What is involved in Risk Register
Find out what the related areas are that Risk Register connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Risk Register thinking-frame.
How far is your company on its Risk Register journey?
Take this short survey to gauge your organization’s progress toward Risk Register leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.
To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.
Start the Checklist
Below you will find a quick checklist designed to help you think about which Risk Register related domains to cover and 74 essential critical questions to check off in that domain.
The following domains are covered:
Risk Register, Event chain methodology, Failure mode, effects, and criticality analysis, Failure mode and effects analysis, ISO 31000, Illusion of control, Integer, Issue log, Karaoke, Likelihood, PRINCE2, Project Management Institute, Regulatory compliance, Risk Breakdown Structure, Risk management, Risk management tools, Scatterplot:
Risk Register Critical Criteria:
Exchange ideas about Risk Register risks and catalog Risk Register activities.
– What tools do you use once you have decided on a Risk Register strategy and more importantly how do you choose?
– Think about the functions involved in your Risk Register project. what processes flow from these functions?
– Are the risk register and Risk Management processes actually effective in managing project risk?
– Have you identified your Risk Register key performance indicators?
Event chain methodology Critical Criteria:
Graph Event chain methodology leadership and adjust implementation of Event chain methodology.
– What are the key elements of your Risk Register performance improvement system, including your evaluation, organizational learning, and innovation processes?
– What other jobs or tasks affect the performance of the steps in the Risk Register process?
– What are the business goals Risk Register is aiming to achieve?
Failure mode, effects, and criticality analysis Critical Criteria:
Brainstorm over Failure mode, effects, and criticality analysis decisions and describe the risks of Failure mode, effects, and criticality analysis sustainability.
– Is the scope of Risk Register defined?
Failure mode and effects analysis Critical Criteria:
Guard Failure mode and effects analysis issues and ask questions.
– How will you know that the Risk Register project has been successful?
– Can Management personnel recognize the monetary benefit of Risk Register?
ISO 31000 Critical Criteria:
Reorganize ISO 31000 decisions and grade techniques for implementing ISO 31000 controls.
– What are the success criteria that will indicate that Risk Register objectives have been met and the benefits delivered?
– Does Risk Register create potential expectations in other areas that need to be recognized and considered?
– What are the record-keeping requirements of Risk Register activities?
– Do you adhere to, or apply, the ISO 31000 Risk Management standard?
Illusion of control Critical Criteria:
Infer Illusion of control risks and get going.
– Do those selected for the Risk Register team have a good general understanding of what Risk Register is all about?
– What are the Essentials of Internal Risk Register Management?
– What is our formula for success in Risk Register ?
Integer Critical Criteria:
Accumulate Integer goals and don’t overlook the obvious.
– Does Risk Register include applications and information with regulatory compliance significance (or other contractual conditions that must be formally complied with) in a new or unique manner for which no approved security requirements, templates or design models exist?
– what is the best design framework for Risk Register organization now that, in a post industrial-age if the top-down, command and control model is no longer relevant?
– What are your most important goals for the strategic Risk Register objectives?
Issue log Critical Criteria:
Consult on Issue log management and find the essential reading for Issue log researchers.
– Who are the people involved in developing and implementing Risk Register?
– Is Risk Register Realistic, or are you setting yourself up for failure?
Karaoke Critical Criteria:
Concentrate on Karaoke issues and question.
– Does the Risk Register task fit the clients priorities?
Likelihood Critical Criteria:
Collaborate on Likelihood strategies and acquire concise Likelihood education.
– In the case of a Risk Register project, the criteria for the audit derive from implementation objectives. an audit of a Risk Register project involves assessing whether the recommendations outlined for implementation have been met. in other words, can we track that any Risk Register project is implemented as planned, and is it working?
– Are there any easy-to-implement alternatives to Risk Register? Sometimes other solutions are available that do not require the cost implications of a full-blown project?
– What is the likelihood of increasing the programs success by implementing it on either a larger or smaller scale?
– How does the firewall quality affect the likelihood of a security breach or the expected loss?
– Is there a high likelihood that any recommendations will achieve their intended results?
– How does the firewall quality affect the likelihood of a security breach or the expected loss?
– Risk of Compromise What is the likelihood that a compromise will occur?
– How will likelihood be defined (e.g. frequency over what timeframe)?
– How do you decide the likelihood something is going to happen?
– What is the likelihood (probability) risks would go wrong?
– What is the likelihood that a compromise will occur?
– What is the likelihood of risk events happening?
– How do you improve your likelihood of success ?
PRINCE2 Critical Criteria:
Map PRINCE2 management and diversify disclosure of information – dealing with confidential PRINCE2 information.
– A lot of these decisions are based around selecting the correct level of governance and ceremony. At project initiation there should be questions such as Do we run this as a full-on PRINCE2 project or do we use some of DSDM for this?
– Can we add value to the current Risk Register decision-making process (largely qualitative) by incorporating uncertainty modeling (more quantitative)?
– Do we run this as a full-on PRINCE2 project or do we use some of DSDM for this?
– Agile Project Management and PRINCE2 9 – one or the other, or both?
– Agile Project Management and PRINCE2 – one or the other, or both?
Project Management Institute Critical Criteria:
Have a meeting on Project Management Institute tasks and oversee Project Management Institute requirements.
– How do you determine the key elements that affect Risk Register workforce satisfaction? how are these elements determined for different workforce groups and segments?
Regulatory compliance Critical Criteria:
Frame Regulatory compliance quality and document what potential Regulatory compliance megatrends could make our business model obsolete.
– Think about the kind of project structure that would be appropriate for your Risk Register project. should it be formal and complex, or can it be less formal and relatively simple?
– In the case of public clouds, will the hosting service provider meet their regulatory compliance requirements?
– Regulatory compliance: Is the cloud vendor willing to undergo external audits and/or security certifications?
– What is Regulatory Compliance ?
Risk Breakdown Structure Critical Criteria:
Examine Risk Breakdown Structure adoptions and reinforce and communicate particularly sensitive Risk Breakdown Structure decisions.
– Does Risk Register analysis isolate the fundamental causes of problems?
Risk management Critical Criteria:
Unify Risk management tactics and visualize why should people listen to you regarding Risk management.
– What do we see as the greatest challenges in improving Cybersecurity practices across critical infrastructure?
– Do you wish to utilize a software solution after you establish the foundation and process for ERM?
– People risk -Are people with appropriate skills available to help complete the project?
– Do you have a baseline configuration of IT/ICS that is used and regularly maintained?
– How do we define and assess risk generally and Cybersecurity risk specifically?
– What are the security information requirements of Cybersecurity stakeholders?
– Are individuals specifically assigned Cybersecurity responsibility?
– For which IT activities has your company defined KRIs or KPIs?
– Can I explain our corporate Cybersecurity strategy to others?
– Does the board keep thorough and accurate records?
– Is your Cybersecurity plan tested regularly?
– Who has the authority to manage risk?
– Risk mitigation: how far?
– Is there a plan in place?
– Why Cybersecurity?
Risk management tools Critical Criteria:
Devise Risk management tools tactics and display thorough understanding of the Risk management tools process.
– Is there a Risk Register Communication plan covering who needs to get what information when?
– Does Risk Register analysis show the relationships among important Risk Register factors?
Scatterplot Critical Criteria:
Merge Scatterplot visions and grade techniques for implementing Scatterplot controls.
– What is the total cost related to deploying Risk Register, including any consulting or professional services?
– How do we ensure that implementations of Risk Register products are done in a way that ensures safety?
– In what ways are Risk Register vendors and us interacting to ensure safe and effective use?
This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Risk Register Self Assessment:
Author: Gerard Blokdijk
CEO at The Art of Service | http://theartofservice.com
Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.
To address the criteria in this checklist, these selected resources are provided for sources of further research and information:
Risk Register External links:
Risk Register Template — ProjectManager.com
Risk Register — Allgress
Risk Register | ERM Strategies
Event chain methodology External links:
[PDF]Event Chain Methodology In Details – Project Decisions
Event chain methodology – WOW.com
Failure mode, effects, and criticality analysis External links:
Failure Mode, Effects, and Criticality Analysis (FMECA)
Failure mode, effects, and criticality analysis – YouTube
Failure mode and effects analysis External links:
[PDF]Failure Mode and Effects Analysis (FMEA)
[PDF]FAILURE MODE AND EFFECTS ANALYSIS (FMEA)
ISO 31000 External links:
ISO 31000 Risk Management Definitions in Plain English
ISO 31000 Risk Management Translated into Plain English
IS/ISO 31000 (pdf) – PDF Drive
Illusion of control External links:
The Illusion Of Control – Scripture Union – Scripture Union
“Bull” The Illusion of Control (TV Episode 2017) – IMDb
The Illusion of Control: The Beginning (2017) – IMDb
Integer External links:
RANDOM.ORG – Integer Generator
Round to nearest decimal or integer – MATLAB round
Reverse Integer – LeetCode
Issue log External links:
Don’t just sound-off about your issues! Log them into your Issue Log and validate, then act on the valid issues.
[XLS]Issue Log Template – Results Washington
What is an Issue Log – Simplilearn.com
Karaoke External links:
Brando’s Speakeasy · Chicago’s Best Karaoke Lounge
Sing King Karaoke – YouTube
Likelihood External links:
Likelihood | Definition of Likelihood by Merriam-Webster
Maximum Likelihood Estimation | STAT 414 / 415
PRINCE2 External links:
Prince2 Foundation Flashcards | Quizlet
How much does the Prince2 Foundation exam cost? – Quora
[PDF]An Introduction to the PRINCE2 project methodology by …
Project Management Institute External links:
Online Courses | Project Management Institute
CCRS | Project Management Institute
Project Management Institute Pittsburgh Chapter – Home Page
Regulatory compliance External links:
Certified Regulatory Compliance Manager (CRCM)
Regulatory Compliance Training & Solutions – Stericycle
Regulatory Compliance Certification School | CUNA
Risk Breakdown Structure External links:
[PDF]RISK BREAKDOWN STRUCTURE (RBS) TEMPLATE
Risk Breakdown Structure Template | MyPM
[PDF]Sample Risk Breakdown Structure – Welcome To ATOM …
http://atom-risk.com/templates/Sample Risk Breakdown Structure.pdf
Risk management External links:
Risk Management Jobs – Apply Now | CareerBuilder
Risk Management Job Titles | Enlighten Jobs
http://Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
Risk management tools External links:
Risk Management Tools – The American Rental Association
Enterprise Risk Management Tools & Workbooks | RMA
Risk Management Tools – MGMA.com
Scatterplot External links:
Matplotlib scatterplot – Python Tutorial
Scatterplots – Quick-R: Home Page