How to Close a Risk

Methodology #

In the Symbiant System, there can be multiple ways to determine that a Risk is Closed.

Removing the Register on a Risk #

In Symbiant there are two places Risks Resisde, the Risk Universe and the Risk Registers.

Risk Universe #

The Risk Universe holds all Risks in your System, this includes any Risks that do or do not have a Register.

Risks held inside the Universe without a Register would typically indicate non-managed Risks or Risks that aren’t mature enough to be designated to a Register.

Risk Registers #

The Risk Registers are the default Risk Module page which shows all Risks that are assigned a Register.

Any Risk in this Module would indicate a managed and active Risk to your organisation.

Removing a Register #

If you would like to adopt this method where removing a Register would equal an inactive/closure of a Risk, please check that this hasn’t already been applied to your System.

If it hasn’t been applied you shouldn’t be able to Remove a Register.

If you’d like to be able to Remove a Register from Risks and adopt this method, please contact Support and State “Risk Register Removal Addition”.

Setting a Risk Status #

In Symbiant a Custom Field of Risk Status can be added which enables the setting of a dedicated Status value to a Risk.

If this is applied to your System, you can then define Open and Closed Status values, this would keep Risks assigned to a Register but then enable Open and Closed Risks inside a Register.

If you’d like to be able to Set a Status on a Risk and adopt this method, please contact Support and State “Risk Status Addition”.

Assigning Risks to an Obsolete Register #

In Symbiant you can define as many Registers as required, therefore you can define an Obsolete Register, this is where you’d assign Risks that are Closed.

This enables the Grouping of Risks that are not currently managed and therefore can be excluded from Reports (If necessary).

This can be added at any time by a System Admin, Please See: How do I assign a specific Risk to a specific Register?

Delete the Risk #

In Symbiant any Record that is Deleted is actually marked as Retracted. As the System is time aware, the Risk shall be retracted from all Dashboards, Reports and Emails from the point of Retraction,

but still visible through History, and Recoverable at any point if it requires managing again. More Information: Database History and Restoring Historical Records