Context Risk Opportunity Registers

The spreadsheet contains three registers:

• The Context Register contains a starting point with some guidance and information about internal and external issues and interested parties, with some prompts to start you off. It is ideal that this be completed in a brainstorming session with personnel who have understanding of various aspects of the business, e.g. finance, legal, HSE, IT, HR.
• The Business Risk Register similarly contains a structured template for identifying the business risks that cascade down from the relevant issues identified from the Context assessment.  The format allows for identification of inherent and residual risks, with planning to reduce risk.
• The Opportunity Register contains a structure for the organisation to identify opportunities identified from the Context assessment, where the organisation can identify opportunities to pursue, again with inherent and residual risks, and planning to maximise the opportunity.

The business risk and opportunity registers utilise separate 5×5 matrices, and have pull-down lists for consequence and likelihood, with automatic calculation of risk scores (inherent vs residual) against the matrix.