Updating a Risk - Editing an Existing Record

Softools' RiskPlan makes adding detail to your Risks and managing them a straightforward and logical process. With varied types of data input, you can define and analyse Risks; whist simultaneously outlining mitigation measures, all in the one space.

^Created Risk Record^

Why Update Risks?

Keeping your Risk profile current is a crucial component of best practice Risk Management. When done effectively you are likely to experience gains in many areas, to name a few:

• Improved planning, prioritisation and decision making
• More efficient allocation of resources and capital
• Decreased financial losses from unforeseen events
• Greater likelihood of delivering business plans on time and in budget

Neglecting this duty however, leads to an out-dated and inaccurate Risk profile that doesn't reflect your organisation's current position. At best this can lead to unrealised benefits, more often the mis-informed decisions that result cause greater damage than this. Common consequences of poor Risk management can include:

• Projects delivered late
• Overspent budgets
• Reputational damage

How to Update Risks - Two Methods

Once created all Risk Record updates are carried out via the Risk Register, here you can either edit the key information of multiple Risks in-line, or choose a specific Risk to open and edit more closely. To access the Risk Register from the Homepage, simply click 'Risk Register', or from anywhere else within RiskPlan select the Register from the left hand menu under the Folders Icon.

Updating a Single Risk Record -

If you choose to open a singular Risk (done via clicking the pencil icon in the far left column of the Risk Register), then the process of updating a Record is much the same as creating one. There are three editable Templates with Fields in them (your data inputs) which are available to edit, for further guidance please refer to the below link:

• 1. Overview | 2. Analysis | 3. Mitigation Plan Templates

Updating Multiple Risks in-line

Within the Risk Register you can select any cell under one of the columns aside from 'Status' and Priority' (as these are automatically calculated). Once selected you will be able to edit the value, with any changes being saved instantly. This can be a preferred way to save time by quickly updating key pieces of information relating to multiple different Risks, without the need to go into each separately.