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Risk Management

Learn how to implement Asset, Third Party and Business Risk Management in eramba. Given the large number of relationships that Risks have with other modules, this course is probably the longest in our entire curricula.

  • Episodes16
  • Duration5h 58m 50s
  • LanguagesEN
Episode 13

Risk Settings

Risk Settings

  • The video discusses how to configure risk management in the eramba software, including defining risk classifications, calculation methods, and risk appetite thresholds.

  • The key steps are:

    1. Define the risk classifications for impact and probability, with options like "high", "medium", and "low".

    2. Select the calculation method, which can be either addition or multiplication of the impact and probability scores.

    3. Define the risk appetite thresholds, which determine how risks are categorized as "high", "medium", or "low" based on the calculated scores.

    4. Optionally, configure the treatment options for how to handle different risk levels (e.g. mitigate high risks, accept low risks).

  • The transcript emphasizes the importance of carefully configuring these settings upfront, as changing them later can require significant rework to update existing risks in the system.