Risk Management Module 2.0

The Scrut team is thrilled to share a brand new version of the risk management module.

This V2 uses a modern approach paired with more customization to manage your risk register! With this 2.0 risk management module, we want organizations to reduce their dependency of managing risks on Excel sheets and replicate those operations on the Scrut platform, a one-stop solution.

New Features in v2 vs. v1

How does it work?

The module has been divided into 4 parts, starting from setting up the risk register, creating risks, assessing risks, to addressing residual risks.

Part 1 - Set up the risk register

a) Click on the 'settings' icon.

b) Create a factor by clicking on 'add factor' - these factors are variables/parameters that make up your Risk Score Formula.

c) Enter the name of the factor, select the stage at which this factor should be used, either assessment or residual, and then add its minimum and maximum value. You can also color code the values for easier understanding.

d) Click on 'save' to add your factor. In order to add more factors to the list, you will need to follow the same process.

e) Now, you can start adding the 'risk score.' In order to do this, go to the “score” tab and click on 'add score.'

f) After this, enter 'score name,' for example, CIA or RPN. Then create the formula using factors and operators and click on 'save'

g) You can add more scores using the same process. Once this is done, go to the “fields” section and click on 'add fields' to add any custom fields.

Part 2 - Create Risk

a) After completing the one-time setup for the risk register, you can start adding your risks. To add a risk, click on 'create risk'

b) Enter some basic information like risk name, category, assignee, etc., and then click on 'save'

Part 3 - Assess Risk

a) Now that the risks are created, it's time to start assessing them. All you need to do is click on 'start assessment'

b) Here, you will list of scores and factors that you configured earlier. Start by scoring them and click on 'next'

c) Now select a risk treatment category and click on 'next'

d) Link your risk to one or more controls, and click on 'save'

Part 4 - Add Residual Risk

Your risk has been treated and now, you can add the residual risk.

If you have any questions or issues, please reach out to your assigned customer relationship manager. They'll be happy to assist you!