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 81 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:
Read up on Risk Register decisions and modify and define the unique characteristics of interactive Risk Register projects.
– Are the risk register and Risk Management processes actually effective in managing project risk?
– Is Risk Register dependent on the successful delivery of a current project?
– Can we do Risk Register without complex (expensive) analysis?
– What are current Risk Register Paradigms?
Event chain methodology Critical Criteria:
Bootstrap Event chain methodology quality and find answers.
– For your Risk Register project, identify and describe the business environment. is there more than one layer to the business environment?
– What are all of our Risk Register domains and what do they do?
– What is Effective Risk Register?
Failure mode, effects, and criticality analysis Critical Criteria:
Investigate Failure mode, effects, and criticality analysis outcomes and find out what it really means.
– What are the key elements of your Risk Register performance improvement system, including your evaluation, organizational learning, and innovation processes?
– What knowledge, skills and characteristics mark a good Risk Register project manager?
– How will you measure your Risk Register effectiveness?
Failure mode and effects analysis Critical Criteria:
Transcribe Failure mode and effects analysis failures and drive action.
– Is there a Risk Register Communication plan covering who needs to get what information when?
– How do we keep improving Risk Register?
ISO 31000 Critical Criteria:
Weigh in on ISO 31000 quality and arbitrate ISO 31000 techniques that enhance teamwork and productivity.
– Which customers cant participate in our Risk Register domain because they lack skills, wealth, or convenient access to existing solutions?
– Do you adhere to, or apply, the ISO 31000 Risk Management standard?
– Does the Risk Register task fit the clients priorities?
– How can the value of Risk Register be defined?
Illusion of control Critical Criteria:
Concentrate on Illusion of control quality and finalize specific methods for Illusion of control acceptance.
– Is a Risk Register Team Work effort in place?
Integer Critical Criteria:
Communicate about Integer adoptions and perfect Integer conflict management.
– What management system can we use to leverage the Risk Register experience, ideas, and concerns of the people closest to the work to be done?
– Is Supporting Risk Register documentation required?
– What is our formula for success in Risk Register ?
Issue log Critical Criteria:
Revitalize Issue log leadership and pioneer acquisition of Issue log systems.
– 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 disadvantages to implementing Risk Register? There might be some that are less obvious?
Karaoke Critical Criteria:
Wrangle Karaoke quality and describe the risks of Karaoke sustainability.
– What will be the consequences to the business (financial, reputation etc) if Risk Register does not go ahead or fails to deliver the objectives?
– Does Risk Register create potential expectations in other areas that need to be recognized and considered?
– Can Management personnel recognize the monetary benefit of Risk Register?
Likelihood Critical Criteria:
Distinguish Likelihood strategies and explore and align the progress in Likelihood.
– 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:
Deliberate PRINCE2 quality and adjust implementation of PRINCE2.
– 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?
– Will new equipment/products be required to facilitate Risk Register delivery for example is new software needed?
– Do we run this as a full-on PRINCE2 project or do we use some of DSDM for this?
– Do you monitor the effectiveness of your Risk Register activities?
– 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:
Shape Project Management Institute engagements and modify and define the unique characteristics of interactive Project Management Institute projects.
– What are the success criteria that will indicate that Risk Register objectives have been met and the benefits delivered?
– Who are the people involved in developing and implementing Risk Register?
– How would one define Risk Register leadership?
Regulatory compliance Critical Criteria:
Exchange ideas about Regulatory compliance issues and achieve a single Regulatory compliance view and bringing data together.
– 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?
– 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:
Accommodate Risk Breakdown Structure leadership and prioritize challenges of Risk Breakdown Structure.
– What other jobs or tasks affect the performance of the steps in the Risk Register process?
– Is maximizing Risk Register protection the same as minimizing Risk Register loss?
– Do we have past Risk Register Successes?
Risk management Critical Criteria:
Pay attention to Risk management decisions and get out your magnifying glass.
– Industry standards enforce legislation that utilities must meet, and these standards do not come cheaply. Standards require additional resources in the form of employees, hours, and technology, all of which increases the cost of providing reliable electricity to the customer. Therefore, the standards of Cybersecurity that protect the customer are then ultimately paid by the customer. So what are these standards and who sets them?
– The intent of risk mitigation (plan) execution is to ensure successful risk mitigation occurs. Do we have answers to the question how can the planned risk mitigation be implemented?
– Based on our information security Risk Management strategy, do we have official written information security and privacy policies, standards, or procedures?
– Has your organization conducted a cyber risk or vulnerability assessment of its information systems, control systems, and other networked systems?
– Do you participate in sharing communication, analysis, and mitigation measures with other companies as part of a mutual network of defense?
– What is the potential impact on the organization if the Risk assessed information is disclosed to unauthorized personnel?
– What are your KEY PROCESSES, MEASURES, and GOALS for addressing risks associated with your products and operations?
– Will our actions, process, program or procedure result in the breach of any law, regulation or contract?
– Do we have a log monitoring capability with analytics and alertingalso known as continuous monitoring?
– Can our company identify any other mandatory Cybersecurity standards that apply to its systems?
– Can our company identify any mandatory Cybersecurity standards that apply to our systems?
– People risk -Are people with appropriate skills available to help complete the project?
– Where specifically is the Risk assessed information processed and stored?
– How do you assess vulnerabilities to your system and assets?
– Who is in charge of ensuring that the repair is made?
– Does your company have a formal ITRM function?
– What scope do you want your strategy to cover?
– Is Cybersecurity Insurance coverage a must?
– How do you report cyberattacks?
Risk management tools Critical Criteria:
Devise Risk management tools tasks and probe using an integrated framework to make sure Risk management tools is getting what it needs.
– Does our organization need more Risk Register education?
– Are there recognized Risk Register problems?
– How much does Risk Register help?
Scatterplot Critical Criteria:
Investigate Scatterplot tactics and correct Scatterplot management by competencies.
– What tools do you use once you have decided on a Risk Register strategy and more importantly how do you choose?
– Have you identified your Risk Register key performance indicators?
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 | ERM Strategies
Event chain methodology External links:
Event Chain Methodology | TAPUniversity
Failure mode, effects, and criticality analysis External links:
Failure mode, effects, and criticality analysis – YouTube
Failure mode and effects analysis External links:
FMEA | Failure Mode and Effects Analysis | Quality-One
[PDF]Failure Mode and Effects Analysis (FMEA)
[PDF]FAILURE MODE AND EFFECTS ANALYSIS (FMEA)
ISO 31000 External links:
ISO 31000 Risk Management Translated into Plain English
CIA -part 3 ISO 31000 RM Flashcards | Quizlet
ISO 31000 Risk Management Definitions in Plain English
Illusion of control External links:
Illusion of control – ScienceDaily
The Illusion of Control : Founders Ministries
The Illusion of Control – psychcentral.com
Integer External links:
The Integer Group – Official Site
On-Line Encyclopedia of Integer Sequences – Official Site
RANDOM.ORG – Integer Generator
Issue log External links:
What is an Issue Log – Simplilearn.com
[DOC]Issue Log Template – Project management
Presort Reference Data Issue Log | PostalPro
Karaoke External links:
Karaoke Song, MP3 Instrumental Playback – Karaoke Version
CeeNee.com: Made in the USA – High end Karaoke machines
PRINCE2 External links:
How much does the Prince2 Foundation exam cost? – Quora
Cheat Sheet: Prince2 – TechRepublic
Project Management Institute External links:
PMI – Project Management Institute :: Pearson VUE
PMI-Project Management Institute
CCRS | Project Management Institute
Regulatory compliance External links:
Legal and Regulatory Compliance | Dell
What is regulatory compliance? – Definition from …
Latin America | Type Approval | Regulatory Compliance
Risk Breakdown Structure External links:
Risk Breakdown Structure Template | MyPM
[PDF]Sample Risk Breakdown Structure – Welcome To ATOM …
http://atom-risk.com/templates/Sample Risk Breakdown Structure.pdf
[PDF]RISK BREAKDOWN STRUCTURE (RBS) TEMPLATE
Risk management External links:
Celgene Risk Management
Education Risk Management | Edu Risk Solutions
Risk Management – ue.org
Risk management tools External links:
Risk Management Tools and Support – FM Global
Enterprise Risk Management Tools & Workbooks | RMA
Scatterplot External links:
Scatterplots – Quick-R: Home Page
Scatterplot Generator – CPM Educational Program