New risk assessment functionality

Risk assessment is an integral part of managing risk in any organization. It helps to identify potential risks and determine the likelihood and impact of those risks. With 6clicks' new risk assessment functionality, you can streamline this process and make it more efficient and effective. Check out what's new below.

Create multiple risk matrices

One of the critical features of the new risk assessment functionality is the ability to create multiple risk matrices. This means that you can use different risk matrices for different types of risk assessments, allowing you to tailor the assessment process to your specific needs. For instance, if you want to calculate the residual risk rating based on a control's effectiveness.

Significantly improved UI/UX in creating risk matrices

The user interface and experience of creating risk matrices have also significantly improved. The new design is more intuitive and user-friendly, making it easier to create and manage risk matrices. The new design also includes helpful tips and guidance, ensuring that you can confidently create and configure risk matrices.

Ability to calculate a field's value based on a set of other fields

One of the critical features of the new risk assessment functionality is the ability to calculate a field's value based on the max of 2 or more other fields. This means you can quickly determine a particular risk score by having the highest value across a number of impact categories selected as the input.

For instance, the overall impact of a risk can be calculated as a MAX function of other impact categories (e.g. Impact - Brand, Impact - Finance, Impact - People etc.). This ensures that the calculated risk score accurately reflects the potential impact of a particular risk. In addition, the calculation is automatic, saving you time and making the risk assessment process more efficient.

Define risk assessment fields at the hub

For teams using 6clicks Hub & Spoke risk assessment fields can be set at the hub and pushed down to Spokes, ensuring that the defined risk assessment approach the organization takes is enforced across all spokes. Though if you want a different risk assessment process for one or more of your spokes or additional risk assessment fields, this can also be configured at the level spoke.

Ready to take your risk management to the next level? With 6clicks' new risk assessment functionality, you can create multiple risk matrices, use an improved UI/UX, and automatically calculate input values. For teams using 6clicks Hub & Spoke, you can ensure a consistent approach to risk assessment across all spokes. 6clicks offers an effective and user-friendly solution that allows organizations to tailor their assessment process, save time, and streamline risk management.

For those of you on Starter and Growth, learn more here. And for those of you managing risks using 6clicks Hub & Spoke, learn more here.