IT Risk Management 2024.03 Release Notes

The following changes have been made in this release.

• The Risks application, formerly known as Risk Register, contains process updates for creating, managing, and aggregating financial expected loss for quantitative risks.

• The Risk Statements application, formerly known as the Risk Register Library, not only continues to serve as a template for risk generation, but now also functions as an additional aggregation level for both qualitative and quantitative risks. Risks are now truly an instantiation of the Risk Statement.

• A new Risk Generator application allows users to quickly generate multiple Risks records, based on the combination of selected Risk Statements and targets (Example targets: Applications, Business Processes, or Facilities). A data feed executes generating one risk per unique combination of statement and target. If Metrics and Metrics Library are licensed use cases, the feed can also generate metrics for each generated risk, based on associated Metrics Library records of each selected Risk Statement. For example, if you selected 2 Risk Statements and targeted 3 Facilities records, the system would generate 6 Risks records.