Many organizations that have set up a compliance improvement program also wish to manage their business risks in a more structured way. Plio offers an integrated Risk register for any user that has access to the Plio business edition.
In Plio, risks can be linked to specific business policies, processes and departments. They can be categorised into different types, and viewed by type, by status or by department. Risks are managed through a process which conforms to ISO 31000 guidelines, as shown below.
Quantitative scoring of risks is provided through a visual Impact/Probability matrix, where users can score both inherent and residual risks. New risk scores can be added over time, as the business puts in place improved risk controls. Together with risk scoring, Plio provides a structured way to evaluate your risks and to create a risk treatment plan.
Just as in other Plio modules, Plio’s risk register lets you link in any corrective actions and preventative actions that people create to manage risk, and to record lessons learned. All of the information you need relating to a specific risk is now accessible quickly, all in one place.
When you want to create a risk report for your management team, Plio gives you a flexible data export facility. Select the data fields you wish to export, download the CSV file that Plio creates, open it up in Excel and create your custom report.