Risk Review 2.0 brings risk reviews directly into the Risk Register, eliminating the identification step and making assessments more efficient. Running reviews from the Risk Register ensures that only authorized users handle risk reviews and this update offers organizations a scalable and iterative approach to risk assessment, enhancing their risk management strategy.
New Features in Risk Review 2.0:
Risk Register Reviews – Users can now initiate risk reviews directly from the Risk Register, consolidating the review process. To create a risk review, you will need to go to the Risk Register and select risks to run a review. The Reviews tab now only shows a list of all reviews that users can filter based on their status while the Tasks tab displays the review tasks assigned to a user as well as their status.
Two-way option for marking risks as reviewed – Users can mark risks as reviewed either from the Reviews tab or directly within the Risk Register. Aside from the Reviews tab where users can view and edit the details of a risk review including its status, they can also go to the Risk Register to select a risk and update its status to Reviewed.
Displaying the number of risks in a review - Risk Review 2.0 shows the number of risks in each review, aiding in task management..
Adding and removing risks – Review owners can adjust ongoing reviews by adding or removing risks as needed.
Review History – Users can track updates and changes made to reviews for better context management..
Automatic status updates – Risk Review 2.0 still supports manual status updates but also introduces automatic status updates. The In Progress status is automatically triggered by the completion of tasks by one or all respondents.
Additional email notifications – Risk Review users will now receive additional email notifications throughout the review workflow, which include when a review has been created, when one or all respondents have completed their reviews, or when a review is returned to an assignee.
Review start date – Risk Review 2.0 now includes a start date in addition to the due date for reviews from the previous version, which will be part of the notifications sent to review owners to facilitate more efficient planning and preparation for tasks.
For Hub & Spoke users, please note:
Migration of selective reviews: Ongoing and completed reviews with identified risks will be migrated, while new reviews with unidentified risks won't be visible.
No Hub reviews: Risk reviews will no longer originate from the Hub, and existing Hub reviews won't transfer over. Enterprises and Spoke users can create separate risk reviews as needed.