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Related pages:
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Risk Management Overview
The following steps are optional, it is not a requirement that an organization use the Risk Module. The following steps should only be implemented if an organization plans to use Amp Impact to manage Risk.
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Fields on Risk convert picklist values to numbers for analytics which are used to calculate an overall score (based on Probability and Impact) and a Risk Level based on that score and thresholds corresponding to either a 5x5, 4x4, or 3x3 Risk Matrix. Modifying the ampi__Risk_Setting__mdt custom metadata type allows a system administrator to define which scale should be applied to risk settings.
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Please note to fully implement this feature customized to an |
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organization's use case, you must follow the steps under each of the following headings: Define the Risk Matrix, Define Risk Level Thresholds, and Update Risk Picklist Values. |
Define the Risk Matrix
Navigate to the Setup , search and click Custom Metadata TypesClick Manage Records next to Risk Setting Interface and search for “Custom Metadata Types”.
Click “Manage Records” next to “Risk Setting”.
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Click
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“Edit” next to
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“Risk Default Scale
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5x5”.
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To modify the Risk Matrix size, click
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on the dropdown menu next to
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“Risk Mode”:
For a 3x3 Risk Matrix, select 3;
For a 4x4 Risk Matrix, select 4;
For a 5x5 Risk Matrix, select 5 (this is the default value assigned out of the box).
5. Click Save“Save”.
Define Risk Level Thresholds
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The maximum possible Overall Score for an assigned Risk Matrix should be used to determine the ‘High the”“High Risk Threshold’Threshold”. A value smaller than the maximum possible Overall Score can be used, however, if a value higher than the maximum Overall Score is used, a risk’s risk”s Risk Level will never reach ‘High “High Risk Threshold’Threshold”. An organization may determine internally how to distribute the values associated with each threshold. Note that any Overall Score calculated that is less than the value defined for ‘Medium “Medium Low Risk Threshold’ Threshold” will be assigned a level of ‘Low Risk’“Low Risk”.
Follow the below steps to edit risk thresholds on ampi__Risk_Setting__mdt:
From the Custom Metadata Types page, click Manage Records “Manage Records” next to Risk Settings“Risk Settings”.
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Click
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“Edit” next to
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“Risk Default Scale
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5x5”.
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Click into the threshold fields and type the new values.
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After updating all values click
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“Save”.
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Update Risk Picklist Values
If a 3x3 or 4x4 Risk Matrix is selected, the following updates will need to be made to the ampi__Potential_Impact__c and ampi__Probability__c picklist field values. Out of the box, these fields come packaged to align with a 5x5 Risk Matrix with the five following picklist values: Very Low“Very Low”, Low“Low”, Medium“Medium”, High, Very High“High”, and “Very High”.
If a 3x3 Risk Matrix is selected, deactivate the following picklist values from the ampi__Potential_Impact__c and ampi__Probability__c fields:
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Navigate to the Object Manager and search for Risk “Risk”.
Click on the ampi__Risk__c object
Navigate to Fields and Relationships
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object and navigate to “Fields and Relationships” to select the ampi__Potential_Impact__c field
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Scroll down to the bottom of the page and find the
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6. Click ‘Deactivate’ next to the picklist values that will not be used
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“Values” section to “Deactivate” the unnecessary picklist values.
Repeat steps 3-6 for the ampi__Probability__c field
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Track Risk Acceptance Levels
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Note that the steps |
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outlined in this section are |
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optional and based on the requirements of your organization. |
The fields ‘Acceptable “Acceptable Risk Level’ Level” and ‘Is “Is Risk Level Acceptable?’ ” on the Risk object helps users to keep a track of whether risks have been brought down to their acceptable levels. ‘Is “Is Risk Level Acceptable?’ ” is a formula field that compares the picklist fields (with default values: High Risk, Medium High Risk, Medium Risk, Medium Low Risk, Low Risk) ‘Acceptable “Acceptable Risk Level’ Level” and ‘Risk Level’ “Risk Level” field to return text values in the following manner:
Returned Value | Condition |
Not Enough Information | If either of the picklist fields |
“Acceptable Risk |
Level” or |
“Risk Level” have empty values | |
Yes | If the value of |
“Risk Level” is equal to or lower than |
“Acceptable Risk |
Level” (for example: Risk Level = Medium & Acceptable Risk Level = Medium) | |
No | If the value of |
“Risk Level” is higher than |
“Acceptable Risk |
Level” (for example: Risk Level = High & Acceptable Risk Level = Medium) |
If you have customized the values of the ‘Risk Level’ “Risk Level” field set by removing certain values, then please make sure that you have removed those values from the ‘Acceptable “Acceptable Risk Level’ Level” field as well. Kindly refer to this section for steps on how to update picklist field values. Additionally, by default the formula field ‘Is “Is Risk Level Acceptable?’ ” is not available on the Risk object page layout. Please follow the steps mentioned below to add the field to the page layout:
Navigate to Salesforce settingsClick on the Object Manager
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3. Search for and click on the Risk object
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4. Click on the Page Layouts tab
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5. Click on the relevant page layout
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to search for the “Risk” object.
Navigate to the relevant page layout to add the “Is Risk Level Acceptable?
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” to the page layout. Click “Save”.
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