Hopex Aquila EN

Risk Environment

Describing Risk Factors

Describing Risk Consequences

Risk Types

To define the objects that can make up the risk environment:

In the Hopex GRC desktop, navigate to Environment > Risks.
You can define:

• Risk Factors

A risk factor is an element which contributes to the occurrence of a risk or which triggers a risk. Several Risks can originate from a same Risk Factor Examples: the use of a hazardous chemical product, the complexity of an application, the size of a project, the number of involved parties, the use of a new technology, the lack of quality assurance, the lack of rigor in requirements definition…

See Describing Risk Factors.

• Risk Consequences

A risk consequence can be positive or negative. It is associated with a type, which enables its characterization, for example: image, environment, employees.

See Describing Risk Consequences.

Note: Risk types must me defined through Risks > By Risk Type.

Describing Risk Factors

Many risk factors are defined by international, national, or industry regulations, or by the organization itself.

Examples of risk factors: hazardous chemicals, competitors, project size, number of stakeholders involved, technical novelty, lack of quality assurance, and insufficient rigor in requirements definition.

In the properties of a risk factor, you can:

• specify a Parent Risk Factor

Do not select the risk factor you are currently describing.

• create or connect Sub-Risk Factors

• create or connect Risk types (Analysis section)

• view connected Risks (Risks page)

A single risk factor may result in multiple risks.

To specify risk factors on a given risk, see Analyzing Risks.

Describing Risk Consequences

A risk consequence can be positive or negative. It is associated with a type, which enables its characterization, for example: image, environment, employees.

Examples of risk consequences: operational disruption, revenue loss, regulatory sanctions, and project delays.

In the properties of a risk consequence, you can:

• specify a Parent Risk Consequence

Do not select the risk consequence you are currently describing.

• create or connect Sub-Risk Consequences

• create or connect Risk types (Analysis section).

• view connected Risks (Risks page)

To specify risk consequences on a given risk, see Analyzing Risks.

Risk Types

A risk type defines a risk typology standardized within the context of an organization.

A risk type enables risk characterization. For example, a risk type can be regulatory, legal, technical, etc.

To create your own risk types:

1. In the navigation bar, click Risks > By Risk Type.

2. Click New.

Similarly, you can create a sub-risk type from a risk type.

A report enables you to analyze the impacts of a risk type. See Risk Type Impact Breakdown.