Manage status and category for risks and opportunities

Like many other entities, risks and opportunities are tracked for progress through different status and they can be grouped into different categories for better management.

Default status

The default statuses include: To do, In progress, and Done. You can edit to customize these status to suit your org level requirement better. However, the default statuses cannot be deleted.

Default categories

The default categories include: Operational, Financial, Strategic, Compliance, and Reputational. You can edit to customize these catergories to suit your org level requirement better. However, the default categories cannot be deleted.

Add custom status

Add more status to include various stages of progress throughout the cycle of risk and opportunity management.

To add new custom status:

Click the gear icon at the top-right corner. The settings page will appear.
Select Risk and Opportunities under Customization.
Select Status under Risk and Opportunities on the left navigation panel. The default status listing will appear.
Click the +Status button. The creation form will appear.
Enter status name.
Pick a color for representation.
Select the type of status as Open, In progress, or Closed.
Select the status after which the new status must be added.
Click Add button. The status will be added to the listing page.

Edit and delete status

To edit status, hover over the required status, click the Edit link, make changes, and update.

To delete status, hover over the required status, click the Delete link, and click the Delete button on the confirmation pop-up.

Note:

If there are risks and opportunities associated with the status you are editing, the changes will be applied to them as well.
If there are risks and opportunities associated to the status you are deleting, you need to move them to a different status before proceeding.

Add custom category

Add more categories for a better grouping system that yields better insights.

To add new custom category:

Click the gear icon at the top-right corner. The settings page will appear.
Select Risk and Opportunities under Customization.
Select Category under Risk and Opportunities on the left navigation panel. The default status listing will appear.
Click the +Category button. The creation form will appear.
Enter category name.
Pick a color for representation.
Select the category after which the new category must be added.
Click Add button. The category will be added to the listing page.

Edit and delete category

To edit category, hover over the required category, click the Edit link, make changes, and update.
To delete category, hover over the required category, click the Delete link, and click the Delete button on the confirmation pop-up.