Once your risks have been identified and entered into the system, you are going to need to plan out how to manage mitigation efforts. SimpleRisk makes this a very simple and straightforward practice by helping you track and plan mitigations in a manner that’s easy to digest.
To plan a mitigation we must first navigate to the “Risk Management” menu at the top and the “Plan Mitigation” panel on the left. In this panel you will see all risks assigned to teams you are a part of, or otherwise have access to. In this view you will see the “Risk ID#” associated with each risk along with risk “Status, Subject, and Date Submitted.” From this panel, you can also view any existing risk mitigation plans, or see if any mitigation reviews have been performed.
To plan and submit a new mitigation, we will select the corresponding “No” in the row of the risk we wish to mitigate. Please note that once a mitigation plan has been added to a risk, it will no longer be listed in this panel. Once you click on the “No” option, the Mitigation Planning menu will automatically be displayed. The Planning Menu provides you with a template to map out how you plan to mitigate a risk. A screenshot of the Mitigation Planning Menu is provided below.
The Plan Mitigation panel displays several input fields. The input fields with drop downs allow you to add new values. In addition, you can remove any unused values in the “Configure” menu at the top and in the “Add and Remove Values” panel on the left. All other input fields are available on an “as used” basis and are not stored, with the exception of those input fields used in concert with a planned mitigation for a specific risk.
This panel also provides you with the option to upload any supporting documentation to your mitigation plan by selecting the “Choose File” button at the bottom right. Once you have completed your proposed mitigation plan, simply save it by clicking the “Save Mitigation” button.
Once saved, it can be reviewed by management or other key stakeholders. During the review process, there are 4 default options available for selection: 1) it can be approved and moved through the proposed mitigation process, 2) it may be rejected and closed 3) it can be “accepted” until the next review and 4) it can be categorized as a “project” allowing you to group risk mitigation efforts together that pose similar risk scenarios.
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