What is involved in Risk Register
Find out what the related areas are that Risk Register connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Risk Register thinking-frame.
How far is your company on its Risk Register journey?
Take this short survey to gauge your organization’s progress toward Risk Register leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.
To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.
Start the Checklist
Below you will find a quick checklist designed to help you think about which Risk Register related domains to cover and 89 essential critical questions to check off in that domain.
The following domains are covered:
Risk Register, Event chain methodology, Failure mode, effects, and criticality analysis, Failure mode and effects analysis, ISO 31000, Illusion of control, Integer, Issue log, Karaoke, Likelihood, PRINCE2, Project Management Institute, Regulatory compliance, Risk Breakdown Structure, Risk management, Risk management tools, Scatterplot:
Risk Register Critical Criteria:
X-ray Risk Register visions and mentor Risk Register customer orientation.
– Are the risk register and Risk Management processes actually effective in managing project risk?
– Which individuals, teams or departments will be involved in Risk Register?
– What are the short and long-term Risk Register goals?
Event chain methodology Critical Criteria:
Devise Event chain methodology engagements and question.
– Among the Risk Register product and service cost to be estimated, which is considered hardest to estimate?
– In what ways are Risk Register vendors and us interacting to ensure safe and effective use?
– Risk factors: what are the characteristics of Risk Register that make it risky?
Failure mode, effects, and criticality analysis Critical Criteria:
Troubleshoot Failure mode, effects, and criticality analysis governance and devise Failure mode, effects, and criticality analysis key steps.
– How can we incorporate support to ensure safe and effective use of Risk Register into the services that we provide?
– Are assumptions made in Risk Register stated explicitly?
– What is our formula for success in Risk Register ?
Failure mode and effects analysis Critical Criteria:
Match Failure mode and effects analysis projects and find out what it really means.
– A compounding model resolution with available relevant data can often provide insight towards a solution methodology; which Risk Register models, tools and techniques are necessary?
– Think about the kind of project structure that would be appropriate for your Risk Register project. should it be formal and complex, or can it be less formal and relatively simple?
– How is the value delivered by Risk Register being measured?
ISO 31000 Critical Criteria:
Jump start ISO 31000 issues and probe the present value of growth of ISO 31000.
– What is the total cost related to deploying Risk Register, including any consulting or professional services?
– When a Risk Register manager recognizes a problem, what options are available?
– Do you adhere to, or apply, the ISO 31000 Risk Management standard?
– How can we improve Risk Register?
Illusion of control Critical Criteria:
Air ideas re Illusion of control governance and optimize Illusion of control leadership as a key to advancement.
– Who will be responsible for making the decisions to include or exclude requested changes once Risk Register is underway?
– What role does communication play in the success or failure of a Risk Register project?
– How to Secure Risk Register?
Integer Critical Criteria:
Probe Integer goals and arbitrate Integer techniques that enhance teamwork and productivity.
– Is there a Risk Register Communication plan covering who needs to get what information when?
– To what extent does management recognize Risk Register as a tool to increase the results?
– Why should we adopt a Risk Register framework?
Issue log Critical Criteria:
Examine Issue log projects and pay attention to the small things.
– Does Risk Register systematically track and analyze outcomes for accountability and quality improvement?
– How do we Identify specific Risk Register investment and emerging trends?
– How do we maintain Risk Registers Integrity?
Karaoke Critical Criteria:
Cut a stake in Karaoke goals and mentor Karaoke customer orientation.
– How do we ensure that implementations of Risk Register products are done in a way that ensures safety?
– What are the top 3 things at the forefront of our Risk Register agendas for the next 3 years?
– Are there any disadvantages to implementing Risk Register? There might be some that are less obvious?
Likelihood Critical Criteria:
Guard Likelihood tasks and define what do we need to start doing with Likelihood.
– Can we add value to the current Risk Register decision-making process (largely qualitative) by incorporating uncertainty modeling (more quantitative)?
– What is the likelihood of increasing the programs success by implementing it on either a larger or smaller scale?
– How does the firewall quality affect the likelihood of a security breach or the expected loss?
– Is there a high likelihood that any recommendations will achieve their intended results?
– How does the firewall quality affect the likelihood of a security breach or the expected loss?
– Risk of Compromise What is the likelihood that a compromise will occur?
– How will likelihood be defined (e.g. frequency over what timeframe)?
– How do you decide the likelihood something is going to happen?
– What is the likelihood (probability) risks would go wrong?
– What is the likelihood that a compromise will occur?
– What is the likelihood of risk events happening?
– How do you improve your likelihood of success ?
– How would one define Risk Register leadership?
– Are we Assessing Risk Register and Risk?
PRINCE2 Critical Criteria:
Reorganize PRINCE2 tasks and sort PRINCE2 activities.
– A lot of these decisions are based around selecting the correct level of governance and ceremony. At project initiation there should be questions such as Do we run this as a full-on PRINCE2 project or do we use some of DSDM for this?
– What new services of functionality will be implemented next with Risk Register ?
– Do we run this as a full-on PRINCE2 project or do we use some of DSDM for this?
– Do you monitor the effectiveness of your Risk Register activities?
– Agile Project Management and PRINCE2 9 – one or the other, or both?
– Agile Project Management and PRINCE2 – one or the other, or both?
Project Management Institute Critical Criteria:
Demonstrate Project Management Institute strategies and document what potential Project Management Institute megatrends could make our business model obsolete.
– How will you know that the Risk Register project has been successful?
Regulatory compliance Critical Criteria:
Read up on Regulatory compliance engagements and pay attention to the small things.
– Does Risk Register include applications and information with regulatory compliance significance (or other contractual conditions that must be formally complied with) in a new or unique manner for which no approved security requirements, templates or design models exist?
– In the case of public clouds, will the hosting service provider meet their regulatory compliance requirements?
– Regulatory compliance: Is the cloud vendor willing to undergo external audits and/or security certifications?
– How do we measure improved Risk Register service perception, and satisfaction?
– What is Regulatory Compliance ?
Risk Breakdown Structure Critical Criteria:
Adapt Risk Breakdown Structure outcomes and diversify by understanding risks and leveraging Risk Breakdown Structure.
– What knowledge, skills and characteristics mark a good Risk Register project manager?
Risk management Critical Criteria:
Adapt Risk management failures and perfect Risk management conflict management.
– How do risk analysis and Risk Management inform your organizations decisionmaking processes for long-range system planning, major project description and cost estimation, priority programming, and project development?
– Has anyone made unauthorized changes or additions to your systems hardware, firmware, or software characteristics without your IT departments knowledge, instruction, or consent?
– What are the responsibilities of the erm. Does the function serve as a coordinating body for the individual Risk Management activities or as an advisory body?
– Is it understood throughout the organization that negative behavior is penalized and positive behavior rewarded despite earnings and performance?
– Is their a plan with the nearest fire department and does the fire department have a current floor plan of the facility?
– What is our rationale for partnerships: social intermediation or Risk Management?
– Should supervisors be engaged deeply with risk measurements and Risk Management?
– How good is the enterprise at performing the IT processes defined in CobiT?
– When you need advice about enterprise Risk Management, whom do you call?
– Does our organization need more Risk Register education?
– Are protection processes being continuously improved?
– Do you use contingency-driven consequence analysis?
– Does the board have a conflict of interest policy?
– What scope do you want your strategy to cover?
– How much to invest in Cybersecurity?
– What risks do we face?
– What could go wrong?
Risk management tools Critical Criteria:
Explore Risk management tools governance and oversee Risk management tools requirements.
– What are the disruptive Risk Register technologies that enable our organization to radically change our business processes?
– Are there recognized Risk Register problems?
Scatterplot Critical Criteria:
Jump start Scatterplot outcomes and ask what if.
– For your Risk Register project, identify and describe the business environment. is there more than one layer to the business environment?
– What are your most important goals for the strategic Risk Register objectives?
– How do we go about Comparing Risk Register approaches/solutions?
This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Risk Register Self Assessment:
Author: Gerard Blokdijk
CEO at The Art of Service | http://theartofservice.com
Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.
To address the criteria in this checklist, these selected resources are provided for sources of further research and information:
Risk Register External links:
Risk Register – All You Need to Know About It – PM Basics
Risk Register Template — ProjectManager.com
IT Risk Register | EDUCAUSE
Event chain methodology External links:
Event chain methodology – WOW.com
[PDF]Event Chain Methodology in Project Management
Failure mode, effects, and criticality analysis External links:
Failure Mode, Effects, and Criticality Analysis (FMECA)
Failure mode and effects analysis External links:
FMEA | Failure Mode and Effects Analysis | Quality-One
Failure Mode and Effects Analysis (FMEA) | ASQ
ISO 31000 External links:
IS/ISO 31000 (pdf) – PDF Drive
ISO 31000 Risk Management Definitions in Plain English
ISO 31000:2018 – Techstreet
Illusion of control External links:
The Illusion of Control : Founders Ministries
The Illusion of Control – YouTube
“Bull” The Illusion of Control (TV Episode 2017) – IMDb
Integer External links:
The Integer Group – Official Site
On-Line Encyclopedia of Integer Sequences – Official Site
Issue log External links:
What is an Issue Log – Simplilearn.com
[XLS]Issue Log Template – Washington
Don’t just sound-off about your issues! Log them into your Issue Log and validate, then act on the valid issues.
Karaoke External links:
MeraGana.com – Online Indian Karaoke Music
Detroit Bowling, Karaoke, & Event Space | Punch Bowl Social
Karaoke Songs & Lyrics | Smule
PRINCE2 External links:
PRINCE2 2017 Certifications | Project Management | AXELOS
PRINCE2 Project Management Course Dates | CC Learning
How much does the Prince2 Foundation exam cost? – Quora
Project Management Institute External links:
Amazon.com: A Guide to the Project Management Body of Knowledge (PMBOK® Guide)–Sixth Edition (9781628251845): Project Management Institute: Books
Project Management Institute, Central Ohio Chapter, Inc.
myPMI | Project Management Institute
Regulatory compliance External links:
Chemical Regulatory Compliance – ChemADVISOR, Inc.
Mortgage News, Regulatory Compliance – MortgageOrb
Regulatory Compliance Association Reviews – …
Risk Breakdown Structure External links:
Risk Management – Using a risk breakdown structure – YouTube
Risk Breakdown Structure Presentation – YouTube
Risk Breakdown Structure Template | MyPM
Risk management External links:
Global Supply Chain Risk Management Solutions | Avetta
Risk Management Framework Information and Resources
orm | Office of Risk Management
Risk management tools External links:
Risk Management Tools – Futures & Options Trading for …
Enterprise Risk Management Tools & Workbooks | RMA
Scatterplot External links:
Scatterplot Matrix — seaborn 0.8.1 documentation
How to Make an Excel 2007 Scatterplot with Groups – YouTube
Scatterplot, Correlation, and Regression on TI-89