Editing a Risk Register

Simulation Master Tutorials > Editing a Risk Register

The risk register tool is used for creating and editing risk register worksheets.  This tutorial shows how to add and edit entries in a risk register.

Before proceeding, let's define some terms used throughout this tutorial.

Entry  A row in the risk register.  Each risk or issue uses one row.

Field  A column in the risk register.  For example, inherent probability is a field.

The workflow for a risk register is as follows:

  1. Create a new risk register.  Refer to this tutorial for how to create a risk register.
  2. Add categories to the risk register.
  3. Add entries.
  4. Add impacts to entries.

Once the risk register is populated; categories, entries, and impacts can be edited as needed.

Topic Links

Adding categories

Adding entries

Adding impacts

Editing categories

Editing entries

Editing impacts

Opening the Risk Register Tool

Click the Risk Register button on the Simulation Master ribbon menu.

To edit, an existing risk register must be selected in the risk register drop-down box.  Our risk register doesn't have any entries yet.

Adding Items to a Risk Register

Adding Categories

Categories are used to identify and group impacts.  Categories must be defined in the risk register prior to adding impacts.

To add categories, click the Add/Edit Categories button.

Select NEW CATEGORY from the drop-down box.  Then enter a name for the category, and click the Save button.

You can continue to add other categories in the same manner.  When done, click the Close button to return to the risk register tool.

Adding Entries

To add an entry, select NEW ENTRY in the ID drop-down box.

Now the data fields for the entry can be entered in the form.  The data field definitions are shown below.

Type  There are two types of entries: risks and issues.  A risk is something that could happen with some probability.  An issue is something that has happened an is ongoing.

Status An entry is either open or closed.  Closed risks will not be included in risk rank reports or heat maps.

Name (optional)  The name of the entry.

Description (optional)  A detailed description of the entry can be entered.

Owner (optional)  An owner of the risk or issue can be entered to assign responsibility.

Triggers (optional)  Triggers are indicators that a risk is about to occur or has occurred.

Inherent probability  This is a numeric value that indicates the probability of a risk occurring before any mitigation actions have been performed.

Residual probability  This is a numeric value that indicates the probability of a risk occurring after any mitigation actions have been performed.

Note (optional)  The note field is a catch-all for anything that doesn't fit in other fields.

Mitigation plan (optional)  Enter any mitigation efforts here.

Contingency plan (optional)  After a risk has occurred, the contingency plan is how the risk will be handled.

Some fields may require a lot of text.  For these fields, click the ^ button to open a larger box.

Once all appropriate data fields are populated, click the Save button in the Add/Edit Risk pane.

Once the entry is saved, it will appear in the list box on the left.

Adding Impacts

Simulation Master allows for a risk to have more than one impact.  For example, a risk may have a financial and schedule impact.  These impacts can be treated separately within the same risk.  Because of this, categories are assigned to impacts and not risks.

Select an entry by clicking on a row in the left side list box, or by selecting an ID in the ID drop-down box.  The Add/Edit Impact pane will now be enabled.  To add an impact, start by selecting a category.

Enter numeric values for inherent and residual impacts.  Impacts can be negative which is considered a good impact.  Note that negative impacts are not included in heat maps.  Only bad impacts (positive values) are included.

You can also include an optional impact description.  Click the ^ button to use the larger text box if needed.

Click the Save button in the Add/Edit Impact pane to add the impact.  The impact will appear in the right side list box.

Editing a Risk Register

Editing Categories

Categories can be renamed and deleted.

Renaming a Category

To rename a category, open the Add/Edit Category form by clicking the Add/Edit Categories button on the risk register form.

Select the category you want to rename, enter the new name in the name box, and click Save.

Deleting a Category

Categories can be deleted, but you need to specify another category to replace the deleted category.  Any impacts with the deleted category will be assigned to the replacement category.

To delete a category, open the Add/Edit Category form by clicking the Add/Edit Categories button on the risk register form.

Select the category you want to delete.  Check the Delete category checkbox, and then select the replacement category.  Click Save to complete the changes.

Editing Entries

To edit an entry do one of the following:

  • Select the entry in the left text box.
  • Select the entry in the ID drop-down box.

Edit the entry fields and click the Save button in the Add/Edit Entry pane.

To delete an entry, select the entry and click the Delete button in the Add/Edit Entry pane.

Editing Impacts

To edit an impact, its associated risk or issue must be selected by doing one of the following:

  • Select the entry in the left text box.
  • Select the entry in the ID drop-down box.

The impacts associated with the entry will appear in the right list box.  Click on the impact you want to edit.

Edit the impact fields and click the Save button in the Add/Edit Impact pane.

To delete an impact, select the impact and click the Delete button in the Add/Edit Impact pane.