Elevate your business understanding and control of potential risks with our comprehensive Enterprise Risk Management Template.
1
Define the business context of the enterprise
2
Identify potential risk sources
3
Rank risks according to impact and likelihood
4
Develop strategies and processes to manage identified risks
5
Approval: Risk Strategies
6
Create a risk management plan and policy
7
Set up a monitoring system to track risks
8
Conduct risk assessment
9
Implement risk control measures
10
Regularly revision and updation of the risk management plan
11
Create a risk communication plan
12
Train related employees about risks and risk management
13
Approval: Training Plan
14
Evaluate the performance of the risk management plan
15
Document and keep records of all risk management activities
16
Update stakeholders about risk management activities
17
Approval: Stakeholder Risk Update
18
Contingency planning for risks that are not controlled properly
19
Plan for risk mitigation in case of an emergency
20
Approval: Emergency Risk Mitigation Plan
Define the business context of the enterprise
Describe the business context of the enterprise including its purpose, goals, and operations. Emphasize the importance of understanding the overall business environment for effective risk management. Outline how this task contributes to the success of the risk management process. Highlight the desired outcome of this task, which is a clear understanding of the enterprise's context.
Identify potential risk sources
Discuss various sources of risks that the enterprise may be exposed to. Explain the significance of identifying these risks to develop effective risk management strategies. Highlight possible challenges in identifying risks and provide guidance on how to overcome them. Specify the required resources or tools for this task.
Rank risks according to impact and likelihood
Explain the importance of assessing risks based on their potential impact and likelihood. Guide users on how to evaluate and rank risks using appropriate criteria. Emphasize the need for a consistent approach to ensure accurate prioritization. Provide options to select the level of impact and likelihood for each risk.
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1. Low
2
2. Moderate
3
3. High
1
1. Low
2
2. Moderate
3
3. High
Develop strategies and processes to manage identified risks
Highlight the significance of developing strategies and processes to mitigate or avoid identified risks. Explain how this task contributes to risk reduction and business resilience. Provide examples of effective risk management strategies. Guide users on developing tailored strategies based on identified risks and following best practices.
Approval: Risk Strategies
Will be submitted for approval:
Develop strategies and processes to manage identified risks
Will be submitted
Create a risk management plan and policy
Explain the importance of a comprehensive risk management plan and policy. Guide users on how to create a plan that outlines risk identification, assessment, and mitigation processes. Highlight the benefits of having a clear policy in place. Provide a subtask list to check the inclusion of key elements in the risk management plan.
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Risk identification process
2
Risk assessment criteria
3
Risk mitigation strategies
4
Contingency plans
5
Roles and responsibilities
Set up a monitoring system to track risks
Describe the purpose and benefits of setting up a monitoring system to track identified risks. Explain how this task ensures timely detection of new risks, changes in risk levels, and the effectiveness of risk mitigation measures. Provide guidance on selecting relevant parameters for risk monitoring and the required tools or resources.
Conduct risk assessment
Explain the importance of conducting a thorough risk assessment to identify potential risks and their impacts. Guide users on how to assess risks using appropriate techniques and tools. Provide a subtask list to ensure a comprehensive risk assessment considering various risk factors.
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Identify potential risks
2
Evaluate impact and likelihood
3
Analyze risk interdependencies
4
Assess risk consequences
5
Prioritize risks
Implement risk control measures
Describe the purpose of implementing risk control measures to mitigate or eliminate identified risks. Guide users on the selection and implementation of appropriate risk control measures. Highlight the importance of regularly reviewing and updating risk control measures to ensure their effectiveness. Provide a dropdown to select the type of risk control measure.
1
Preventive measures
2
Mitigation measures
3
Transfer measures
4
Acceptance measures
5
Avoidance measures
Regularly revision and updation of the risk management plan
Outline the importance of regularly reviewing and updating the risk management plan to ensure its relevance and effectiveness. Explain how this task contributes to ongoing risk management and continuous improvement. Provide a date field to specify the date of the last revision.
Create a risk communication plan
Explain the significance of a risk communication plan in effectively sharing risk-related information with stakeholders. Guide users on developing a plan that outlines communication channels, key messages, and frequency of communication. Provide a subtask list to check the inclusion of essential elements in the risk communication plan.
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Identify stakeholders
2
Determine key messages
3
Select communication channels
4
Set communication frequency
5
Define responsible parties
Train related employees about risks and risk management
Describe the importance of training related employees about risks and risk management techniques. Emphasize how this task enhances risk awareness and ensures consistent risk management practices. Provide a dropdown to select the training method.
1
In-person training
2
Online training
3
Webinars
4
Workshops
5
E-learning modules
Approval: Training Plan
Will be submitted for approval:
Create a risk communication plan
Will be submitted
Train related employees about risks and risk management
Will be submitted
Evaluate the performance of the risk management plan
Explain the purpose of evaluating the performance of the risk management plan. Guide users on how to assess the effectiveness of risk management measures, identify areas of improvement, and make necessary adjustments. Provide a subtask list to evaluate key performance indicators of the risk management plan.
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Assess risk reduction effectiveness
2
Evaluate stakeholder satisfaction
3
Review incident response effectiveness
4
Monitor compliance with risk management procedures
5
Identify areas for improvement
Document and keep records of all risk management activities
Describe the importance of documenting risk management activities for future reference and transparency. Explain how this task helps in maintaining accountability and aids in continuous improvement. Provide a dropdown to select the type of document or record.
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Risk register
2
Incident logbook
3
Meeting minutes
4
Training records
5
Audit reports
Update stakeholders about risk management activities
Explain the importance of regularly updating stakeholders about risk management activities. Highlight how this task ensures transparency, fosters trust, and enables effective collaboration. Provide an email field to enter stakeholders' email addresses.
Approval: Stakeholder Risk Update
Will be submitted for approval:
Update stakeholders about risk management activities
Will be submitted
Contingency planning for risks that are not controlled properly
Describe the significance of contingency planning for risks that are not effectively controlled or mitigated. Guide users on developing contingency plans to minimize the impact of unforeseen events or failures in risk control measures. Provide a long text field to describe the contingency planning process.
Plan for risk mitigation in case of an emergency
Explain the importance of planning for risk mitigation in emergency situations. Guide users on developing emergency response plans to efficiently handle risks during crises. Provide a long text field to describe the emergency response plan.
