The risk repository

The Risk Repository holds risks that VirgilTrack suggests for your organisation. Instead of typing a risk from scratch, you copy a suggestion into your department’s register and then assess it.

Where the suggestions come from

When your organisation’s strategic plan is brought into VirgilTrack, its AI reads the plan and picks out the risks it describes. Those risks appear here as suggestions, with the badge Strategic AI Suggestion. See Bring in your strategic plan.

When this happens, the CEO and the department managers get a notification such as “New risk identified” or “3 new risks identified”.

Suggestions belong to your organisation only. Each person’s repository leaves out the suggestions they have already copied or hidden.

VirgilTrack’s platform administrators also have a form, Add RiskRegister Risk, for adding a suggestion by hand. In this version, suggestions added that way don’t belong to any organisation, so they don’t appear in your repository. See Add suggested risks to the repository.

Open the risk repository

Select Risk Repository in the menu on the left.

At the top are the Search Risks box and the Filter button. Below them is the list of Suggested Risks.

The Export button next to Filter opens a window, Export Risk Catalog, but it doesn’t export anything yet. Its Submit and Discard buttons just take you back to your start page. See Known limitations.

What each suggestion shows

Under the heading Suggested Risks, each suggestion shows:

• a tick box, to select it;
• its name and description;
• badges: Strategic AI Suggestion if it came from your strategic plan, and any tags it has;
• “Threatens 2 Strategic Objective(s)” in red, if it puts objectives in your strategic plan in danger;
• an AI Assessment label, meant to show a suggested likelihood and impact. It may be blank: you choose the likelihood and impact yourself when you assess the copy;
• a yellow Similar active risk found box, if VirgilTrack thinks your organisation already has this risk. See Link a suggestion to a risk you already have.

Select the arrow at the start of a suggestion to show its details:

Detail	What it means
Strategic Impact Warning	The objectives in your strategic plan this risk would put in danger. Next to each, Exposure is the total budget of that objective’s initiatives. Total Strategic Value at Risk adds them up.
Implications	What would happen if the risk happened.
Root Cause	Why it could happen.
Mitigations	Suggested ways to reduce it.
Category	The kind of risk, such as Financial Risk.
Review Freq	A suggested review frequency, or Not Set.
Source	Where in the strategic plan the risk was found.

Find a suggestion

• Type in Search Risks to show only suggestions whose name or description contain your words.
• Select Filter, choose a Risk Type (ALL RISKS, STRATEGY ALIGNED RISKS or IPSAS READINESS RISK), then select Apply. To see everything again, choose ALL RISKS and select Apply. The menu’s Reset button only closes the menu. For IPSAS readiness risks, see IPSAS readiness risks.

Copy suggestions into your register

1. Open Risk Repository.

2. Tick the suggestions you want to copy. You can copy up to 20 at a time.

   To tick every suggestion in the list, tick the box next to Suggested Risks.

   While suggestions are ticked, Filter is replaced by the number selected and two buttons: Copy Selected and Hide Selected.

3. Select Copy Selected.

4. In Confirm Copy, select Yes, copy them!.

5. When the Success! message appears, select OK.

What happens next

• The Risk Register opens on the Not assessed group, with the copied risks selected and highlighted.
• Each copy is a new risk in your department’s register, with the status Not assessed. You are its owner and its responsible person.
• Each copy keeps the suggestion’s name, description, root cause, implications, category, tags and threatened objectives. It doesn’t keep the suggested likelihood, impact, mitigations or review frequency: you set those when you assess it.
• The suggestions you copied disappear from your repository. Your colleagues still see them.
• The CEO gets a “New Risk Created” notification for each copy.

Next, assess each copied risk to give it a score, a deadline and reviews. Only you can do this, because you are its owner. See Assess a risk.

Wenk

The suggested Mitigations aren’t copied. Before you copy a risk, open its details and note them: they make a good start for the risk’s controls.

Hide suggestions you don’t need

Hide a suggestion that doesn’t apply to your work, so your list stays short.

1. Tick the suggestions you want to hide. You can hide up to 10 at a time.
2. Select Hide Selected.
3. In Confirm!, select Yes, hide them!.

A message says “The selected risks were hidden successfully!” and the suggestions leave your list.

Versigtig

Hiding is only for you, and you can’t show a hidden suggestion again. Your colleagues still see it.

Link a suggestion to a risk you already have

VirgilTrack compares each suggestion with the risks already recorded in your organisation, in every department. When one is very similar, a yellow box next to the suggestion’s name says Similar active risk found, followed by that risk’s code and name and how similar they are, for example (91%).

If it is the same risk, link them instead of copying a duplicate.

1. In the yellow box, select Merge Links.
2. In Confirm Merge, check the two names, then select Yes, Merge.

A message says “Risk successfully merged into the live register.” The suggestion disappears from your repository.

If the suggestion threatens objectives in your strategic plan, VirgilTrack also:

• adds those objectives to the existing risk, so it shows as Strategic in the register;
• adds the suggested mitigations to the existing risk’s Mitigation notes, starting with “[Strategy AI Suggestion]:”.

Tips

• Agree with your colleagues who copies which suggestion. Copying hides a suggestion only for you, so two people could copy the same one.
• Before you copy a suggestion, check whether a Similar active risk found box appears. Linking avoids having the same risk twice.

If something goes wrong

What you see	Why	What to do
“There is currently no Suggestions in the Repository.”	Your organisation has no suggestions yet, you’ve copied or hidden them all, or none match your search or filter.	Clear the search, and choose ALL RISKS under Filter. If the list is still empty, add the risk yourself. See Add a risk.
“Please select at least one risk to copy.” or “Please select at least one risk to hide.”	Nothing is ticked.	Tick at least one suggestion first.
“You are only limited to copying up to 20 risks at a time”	You ticked more than 20 suggestions to copy.	Copy them in smaller groups.
“You are only limited to hiding up to 10 risks at a time”	You ticked more than 10 suggestions to hide.	Hide them in smaller groups.
“The following risks could not copy successfully:”	Copying failed.	Check the Not assessed group in the register to see what arrived, then copy the rest again.
“Failed to merge the risk.”	The link couldn’t be saved.	Try Merge Links again later.

Related

• Assess a risk
• The risk register
• Add a risk