Configuring Risk Matrix

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Last updated: Apr 23, 2024 by Shilpa K (Deactivated)Version comment

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Change Management

What is Risk Matrix?

You can configure a Risk Matrix to provide the Overall Risk value for Business and Operational Risk of a CR. The Overall Risk value is displayed under the RISK tab of a CR (see: Creating Change Records).

To configure a Risk Matrix:

  1. Click Change > Configuration > Risk Matrix. The RISK MATRIX page is displayed.

    RISK MATRIX page
    Figure: RISK MATRIX page

  2. Select the Tenant, enter the required fields, and click SUBMIT to configure the Overall Risk value. For more information about the fields on the RISK MATRIX page, see Field Description.

Field Description

The following table describes the fields on the RISK MATRIX page:

Field

Description

Business Risk

Specify the number of columns you want to configure for the Business Risk Value and click GENERATE to apply it to the Risk Matrix table.

Operational Risk

Specify the number of rows you want to configure for the Operational Risk Value and click GENERATE to apply it to the Risk Matrix table.

BUSINESS RISK SCALE

Configure the weightage for the Business Risk Values. The Business Risk Values for the Risk Questions are configured on the Risk Questions and Answers page.

Risk

Displays the Risk configured for the Tenant.

From Scale

Type in the minimum Risk Value for the Risk Type.

To Scale

Type in the maximum Risk Value for the Risk Type.

OPERATIONAL RISK SCALE

Configure the weightage for the Operational Risk Values. The Operational Risk Values for the Risk Questions are configured on the Risk Questions and Answers page.

Risk

Displays the Risk configured for the Tenant.

From Scale

Type in the minimum Risk Value for the Risk Type.

To Scale

Type in the maximum Risk Value for the Risk Type.

RISK SCALE

Configure the weightage for the overall Risk Value.

Risk

Displays the Risk configured for the Tenant.

From Scale

Type in the minimum Risk Value for the Risk Type.

To Scale

Type in the maximum Risk Value for the Risk Type.

Weightage

Select the value in the drop-down list. If the risk value is in between the configured range, the selected weightage is displayed in the Risk Field of the NEW CHANGE RECORD page.

Understanding the Matrix Table

The columns and rows in the table are defined in the Business Risk and Operational Risk field. On creating the required number of columns and rows, the range of Business and Operational Risk values needs to be specified in the columns and rows, respectively.

Example:

Figure: Risk Matrix table

For the values configured in the table shown in the above figure, if the Risk value for Business Risk is 39 and Operational Risk is 10, the Overall Risk value will be 7.

The Overall Risk value is calculated as explained below:

  • Since Business Risk value is 39, the Overall Risk value is in the sixth column.
  • Since Operational Risk value is 10, the Overall Risk value is in the third row.
  • Hence, the Overall Risk value is 7.