Risk Template in Excel Training • Objective: Quantitative Value

Video Training for Objective Register: Quantitative Value

Audio Extract for Objective Register: Quantitative Value

Transcript and Screenshots for Objective Register: Quantitative Value

In this training, I will briefly explain the section Quantitative Value at Risk, in the Objective Register tab of Managenable® risk template software.

In the Objective Register tab, and for each objective, you can decide if you want to use, or not to use, Quantitative Value at Risk when performing risk and control assessments.

Quantitative Value At Risk Section

Quantitative Value At Risk Drop Down List

Actually, for objectives such as financial objectives, it is necessary, or at least, useful, to evaluate the quantitative value at risk.

For other types of objectives, which may be highly subjective, it is often difficult, and not necessarily worth the effort, to evaluate a quantitative value at risk, be it financial or other.

For each objective, 3 choices are available.

You can choose to use quantitative value at risk, or you can choose to keep it under consideration, which means that you do not use it yet, but you may in the future, or you can choose to not use quantitative value at risk.

Quantitative Value At Risk Possible Selections

Each one of these choices are color coded.

These colors are defined, and can be changed anytime, in the Objective Parameters tab.

Objective Parameters Tab: Color And Preview Selection

Similarly, the list of choices in the drop-down list is defined, and can be changed anytime, in the Objective Parameters tab.

Objective Parameters Tab: Items For Drop Down List

For more information on Parameters tabs, please refer to the relevant training.

In the Objective Register tab, you only choose if Quantitative Value at Risk should be used or not used, for the objective.

However, the choice made here, influences the Risk Register tab, and the Control Register tab.

For example, in the Risk Register tab, the choice of using or not using quantitative value at risk, is displayed for the Objective at Risk which is selected.

Risk Register Tab: Quantitative Value At Risk Section

If the choice, for the objective at risk, is to use quantitative value at risk, then you must enter a value in the columns Value at Risk for the record to be considered complete and valid.

Risk Register Tab: Use Quantitative Value At Risk

In the Risk Register tab, the Value at Risk can be entered…

For the assessment of inherent risk levels.

Risk Register Tab: Value At Risk, Inherent Levels

For the assessment of acceptable risk levels.

Risk Register Tab: Value At Risk, Acceptable Levels

And, for the assessment of residual risk levels.

Risk Register Tab: Value At Risk, Residual Levels

And in the Control Register tab, the Value at Risk can be entered…

For the assessment of control design levels.

Control Register Tab: Value At Risk, Design Levels

And, for the assessment of control implementation levels.

Control Register Tab: Value At Risk, Implementation Levels

For more information on the Risk Register tab, and the Control Register tab, please refer to the relevant training.

In summary, the choice of using, or not using, quantitative value at risk for each objective, enables, or disables, the ability to use quantitative values when recording assessments in the Risk Register tab, and the Control Register tab.