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Using critical risk controls
Who is this article for?Administrators who want to learn how to use critical risk controls.
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Critical risk controls are essential components of an effective risk management strategy, designed to address and mitigate the most significant threats facing an organisation. This article explores how to use critical risk controls within Lucidity Risk.
1. Critical risk controls
Video: Critical Risk Controls Overview
Critical risk controls can be added as items in a list to be selected rather than free text. This allows for consistency across the business and can be attached to any/multiple risks. When attached to the master risks, it will advise project managers of the specific controls that are required to be in place.
This use of critical risk controls within Lucidity is an optional feature that will suit large to enterprise businesses only. Please discuss with Lucidity to access this feature.
2. Critical risk control settings
In order to utilise the critical risk controls feature, several specific managed lists need to be configured first. These are found in the Settings tab and are typically only accessible by system administrators. Refer to Risk Settings for general settings information.
|
Risk control settings |
Description |
|---|---|
|
Hierarchy of Controls |
Apply the highest level of relevant controls from the hierarchy to a critical risk control |
|
Control Categories |
Apply categories to controls |
|
Unwanted Scenarios |
Create standard unwanted scenarios to be used in multiple controls |
|
Control Effectiveness |
Apply the effectiveness of the control |
3. Add a master risk control
To add a master risk control, from the Master Register then Master Risk Controls menu:
- Click Add New.
-
Complete the fields (see table Definitions of fields below).
Note: The details captured for each record may vary slightly between each system configuration. Fields marked with * are mandatory.
3.1. Definition of fields
|
Field |
Description |
|---|---|
|
Control ID |
Enter the internal ID reference (used in reporting). Example: HSE.WH.01 |
|
Hierarchy of control |
Select the highest relevant hierarchy of control e.g. Elimination, Substitution, Engineering, Administration or PPE. |
|
Control category |
Select the control category (used in report filtering). |
|
What is the control? |
Enter specifics on the control required to be put in place. |
|
What is the unwanted scenario? |
Enter the possible unwanted scenario aiming to be prevented. |
|
What is the specific objective of this critical control? |
Enter the control objective. |
|
What could cause this control to fail or lessen its effectiveness over time (escalation factors)? |
Enter relevant factors. |
|
Performance required |
Specify the performance required of this critical control to ensure it meets its objective (e.g. design specification)?. |
|
Control actions |
Enter required actions or tasks (Lucidity InForm may be utilised here). |
|
Supervisors checks |
Enter checks required by supervisors (Lucidity InForm may be utilised here). |
|
Management Checks |
Enter checks required by management (Lucidity InForm may be utilised here). |
|
Legislative reference |
Enter any relevant references to national, state or local legislative requirements. |