Add and Manage Organizational Risks, Issues, or Opportunities

Risks, Issues, and Opportunities are critical for managing organizational risk in venues, enabling you to address uncertainties effectively while planning and executing events and projects. For more details, see Introduction to Risks, Issues and Opportunities.

There are two types of Risks: 

• Organizational Risks: These are business risks or project risks that are used alongside the Planning module. These are found alongside Issues and Opportunities on the Risks page and will use risk actions to manage mitigation measures.
• Template Risks: Template risks are used on Risk Profiles and Risk Assessments to identify applicable risks; Risk Profile and Risk Assessments will now only use Template Risks. 

This article is about organizational risks/issues/opportunities. For instructions about template risks to be used in risk assessments, see Add and Manage Template Risks.

In this article:

• Add a Risk, Issue, or Opportunity
• Risk/Issue/Opportunities Details Page
• Edit and Update Risks, Issues, and Opportunities

Add a Risk, Issue, or Opportunity

To add an organizational risk, issue or opportunity:

1. To add an organizational risk, go to one of the pages below and click + Add. The Add Risk drawer opens.
   • Risk > Risk Dashboard
   • Risk > Risks & Issues
   • Risk > History
   • A project details page on the Risks tab.
2. Select whether to create a risk, issue, or opportunity.

3. If you are creating a risk, you can use a risk from the Risk Impact Library. Click Use risk on a risk card in the carousel at the top of the drawer. The title, risk likelihood, and risk impact will be added to the form.

   Use the Risk Impact Library to add suggested risk actions as well as the risk.
4. Add risk/issue/opportunity information:
   • Title: Be sure to add a unique title that will distinguish this risk/issue/opportunity from others.
   • Due Date: Select the date the risk/issue/opportunity is due.
   • Status: Select Closed, Draft, or Open.
   • Likelihood and Impact: Choose the likelihood the item will happen and the impact if it does. This will automatically set the risk rating status for the risk/issue/opportunity. 
     • Since issues are items that are actually happening, you cannot choose a probability. By default, a probability of Issue will be assigned.
   • Owner: Select who owns or is responsible for this risk/issue/opportunity.
   • Privacy: Select an option.
     • Public: Open to those with correct permissions by default.
     • Confidential: Limited to a more select group of users.
   • Risk Impact Type: Select the impact type which applies. While you can select multiple types, we recommend creating separate items for each Impact Type to allow you to plan the responses for each of these impacts separately.
   • Strategy: Choose how you will manage this item. The default options are:
     • Risk: Mitigate
     • Issue: Contingency
     • Opportunity: Exploit
   • Department: Select which functional areas will be responsible for this. Click the star by the department which has primary responsibility for this risk/issue/opportunity.
   • Project: Select the project the actions will sit in.
   • Identified by: Select the user who identified the risk.
   • Description: Describe the risk/issue/opportunity. You are able to format the text, including numbered or bulleted lists.
   • Tags: Select the appropriate tags. Tags are configured in Settings > Tag Manager.
5. When all information has been added, click Save. The risk/issue/opportunity details page opens.

Risk/Issue/Opportunities Details Page

You are able to view details, edit, and update risks, issues, and opportunities on the details page. Click the risk on the Risks & Issues page or the Risk History page to open its details page.

In addition to the information visible in the main part of the page:

• The right sidebar has four sections: Details, Location, Linked Items, and Subscribers. Open each tab to view additional information about the risk/issue/opportunity.
• There are three tabs at the bottom:
  • Risk actions: View a list of all of the actions that need to be taken to deal with the risk, issue or opportunity. You add new actions here, or click into an action to view further information.
  • Attachments: Upload files or links to the risk, or view any files and links that have already been associated to the risk.
  • History: Add comments to the risk and also shows you a full audit history of all changes or additions to the risk.

Edit and Update Risks, Issues, and Opportunities

To edit risk/issue/opportunity information, go to its details page. Click any information detail to edit it. 

In addition to editing the information, you can also take additional actions. Click the three dot menu at the top right to:

• Add a comment. The comment will appear on the History tab.
• Pin/unpin the item from MyTrack.
• Share the risk/issue/opportunity with a user or user group via email.
• Subscribe to updates. All Subscribers are listed in the Subscribers section of the right sidebar.
• Change the risk to an opportunity or the opportunity to a risk. 
  • You'll get a confirmation that the change was made, but Risk or Opportunity in the header will not update until the page is refreshed.
• Archive the risk.
• Delete the risk.

Some risk/issue/opportunity information can also be edited directly on the Risks & Issues page and on the MyTrack page:

• Click a lozenge and select the new value.
• To update the title of a risk, issue, opportunity, or action, hover over the name and click Edit. Type the new title and click Save. 

Next Steps

Once the risk, issue, or opportunity is created, add actions to mitigate or handle the risk, issue, or opportunity. See Actions for Handling Organizational Risks, Issues and Opportunities for more information.