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Adding, editing and deleting Master Risks
Who is this article for?Administrators who want to learn how to add, edit and delete Master Risks.
System Administrator permissions are required to add, edit and delete Master Risks.
Master Risks form the backbone of an organisation's risk management framework, providing a centralised repository of identified risks that can be applied across various projects and departments. This article delves into the crucial processes of adding new Master Risks to capture emerging threats, editing existing ones to reflect changing circumstances, and deleting obsolete risks in Lucidity Risk, empowering you to maintain a comprehensive, up-to-date, and relevant master risk register that enhances your organisation's overall risk management capabilities.
1. Add a Master Risk
Video: Add Individual Risks to the Project Risk Register (Adding a master risk is very similar to this task).
Only the system administrator has the permission to add, edit and delete master risks. This should be managed very carefully to retain the integrity of the system and to avoid duplicate master risks. It is a worthwhile exercise to create a standard set of guidelines that all new master risks entered must follow.
Adding a master risk is very similar to adding a risk to a project risk register. To add a new master risk, from the Master Risks page:
- Click Add New.
- Complete the fields.
Note: The details captured for each risk may vary slightly between each system configuration. Fields marked with * are mandatory.
- Click Save to add the risk to the master risks list.
1.1. Copying Master Risks
If a new master risk is similar to an existing one, the existing master risk can be copied from the Master Risks page by clicking the Copy button from the actions button. Make any necessary changes and save the new master risk.
2. Edit a Master Risk
Video: Edit Individual Risks in the Project Risk Register (Editing a master risk is very similar to this task)
Editing a master risk is very similar to editing a risk on the project risk register. To edit master risks, from the Master Risk Page:
- Click Show Filters.
- Use Filters as required to locate the relevant risk.
- Click Filter.
- Locate the specific risk at the bottom of the screen.
- Click Edit to the far right of the relevant risk.
- Adjust as required.
- Click Save to keep the changes.
3. Delete a Master Risk
Video: Delete Individual Risks from the Project Risk Register (Deleting a master risk is very similar to this task).
3.1. Templates and existing project registers
Deleting a master risk will delete the risk from current templates. However, it will not be deleted from any existing project risk registers. If the master risk needs to be deleted from project risk registers, this will need to be done via the Risk Registers page.
To delete master risks, from the Master Risks Page:
- Click Show Filters.
- Use filters as required to locate the relevant risk.
- Click Filter.
- Locate the specific risk at the bottom of the screen.
- Click Actions to the far right of the relevant risk.
- Click Delete.
- In the pop-up that appears, click Delete to completely delete the risk from the master risk register.