Track alliance risks

The Risk Management feature provides a centralized, structured place for identifying and monitoring risks related to alliances. For Issue Management, see Track alliances issues.

Overview

Plan availability: Advanced (available with Alliance Management)
Please contact your CSM at Inpart to enable this feature on your Deal space.
Required user role: Manager/Contributor

The Risk Management feature includes ownership assignment, progress tracking, and seamless integration with alliance data, all while ensuring compliance with contractual obligations. 

What's inside risks

• Risk owner
  The risk owner is the person responsible for monitoring the risk. Only Manager users can be risk owners.
  
• Watch list
  Watchers are other users (Managers or Contributors) involved in the risk monitoring. With this role, Manager users can edit all information, whereas Contributor users can only add comments in the Notes section.
  
• Details section
  This section contains the key information about the risk:
  • The related alliance and partner organization.
  • The risk type (e.g., Financial, Legal, Governance...).
  • The likelihood: Risks have four possible default likelihood levels: Low, Medium, High, and Very high. These likelihood levels help you quickly filter and identify which risks need your attention.
  • The impact: Risks have four possible default impact levels: Low, Moderate, High, and Severe. These impact levels help you quickly filter and identify which risks need your attention.
  • The description of the risk with the option to attach files to the text (files can't be previewed in the application, but can be downloaded).
  • The territories impacted.
  • The proposed mitigation plan with the option to attach files to the text and tag other users.
  • The planned mitigation date and the mitigation completion date.
  • The proposed escalation plan.
  • The date when the risk was reported (Creation date).
    
• Notes
  This section provides a space to add any kind of notes with the option to attach files and tag other team members.
  

Risk statuses

Risks have seven possible default statuses depending on the risk evolution. 

Standard risk management statuses:

• Identified: When the risk is first created with minimal information filled in.
• In review: When the risk is being assessed, and additional fields are being completed, such as Description, Territories, Risk type, etc.
• Under mitigation: When the mitigation plan is being worked on.
• Ongoing monitoring: When the risk has been mitigated and you keep monitoring it until the risk is no longer relevant.

Statuses if the risks materialize and are escalated into issues:

• Escalated: When the risk materializes and requires the escalation path to be executed.
• Resolved: When the risk has been addressed and will no longer impact the alliance.

Status if the risk didn't materialize:

• Closed: When the risk is no longer relevant and has not occurred.

Open risks from alliances

Risks related to an alliance are displayed in the Top risks section at the top of the alliance page. This section displays the risks with any status except for Ongoing monitoring, Resolved, and Closed, sorted by level of impact (from Severe to Low), and urgency (based on the Planned mitigation date). Click the risk title to open the risk overview page. 

A maximum of four risks is listed here. Click View all to open the risk hub.

Create risks

Required user role: Managers can create risks from any alliances they have access to.

You can create new risks either from the risk hub or from anywhere in the platform from the navigation bar.

Click Create. A pop-up will open. Start entering the name of the alliance, and a list of matching results pulled from the list of alliances will appear. Select the alliance and click Confirm.

The created risk will open in a side panel. From there, you can enter the name of the risk and fill out all the fields.

Add people to the watchlist

Watchers are other users (Managers or Contributors) involved in the risk monitoring. With this role, Manager users can edit all information, whereas Contributor users can only add comments in the Notes section. 

Open a risk and click the eye button at the top-right of the page. You can select several watchers. The watchers will receive an email notifying them they've been added to the risk watchlist.

Manage risk types

You can manage risk types from existing risk pages.

Open a risk and click the Risk type drop-down list. From there, either click Add new type, or click the more options button next to existing values to edit or delete them.

Filter risks

On the risk hub, risks are, by default, first sorted from the most urgent status (Escalated) to the least urgent status (Resolved/Closed) and then based on Impact, Likelihood, and Planned mitigation date.

You can apply filters to narrow down the list of risks. Go to the risk hub and click the Filter button.

A side panel will open with the available filters. Select the column you would like to filter on.

Select the values and click the back arrow to return to the filtering hub.

Click Apply filters. The side panel will automatically close and display the matching results in the risk hub.

The filtering criteria are displayed at the top of the risk hub for reference. To edit them, you need to go back to the filtering side panel.

You can also search with keywords from the risk name, description, mitigation and escalation plan, or notes fields.

Export risks

The export allows you to download risks into an Excel file.

Go to the risk hub and click the Export button.

If you applied filters, only the matching results will be exported. Otherwise, all risks will be exported.

Click Confirm to launch the export.

Delete risks

Open the risk and click the more options button at the top right of the page. Select Delete.

A pop-up will open to ask for your confirmation. Click Delete.

Notifications

The application automatically sends email notifications to keep you and your team informed about important changes to risks. Notifications are sent for:

• Status change: Sent to the risk owner and watchers whenever the status changes.
• Planned mitigation date change: Sent to the risk owner and assignees when the target resolution date is updated.
• Ownership change: Sent to the new risk owner when risk ownership changes.
• Mentions: Sent to the user mentioned.

Detailed user rights

The rights in the table below apply:

• For all Managers, unless otherwise specified in the table.
• For Contributors who were selected as risk watchers.