This settings page enables you to define and update multiple risk types, facilitating a comprehensive approach to risk management. These defined risk types can then be easily linked to a hierarchy node or an entity, effectively establishing a hierarchical structure for managing risks across the system.

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Figure 1.1

• STEP 1: Click the Risk Types tab.

• STEP 2: To define a new Risk Type, click Add New, Type in a name and description in the text boxes provided.

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Figure 1.2

• STEP 3: Click the Add button to save details.

• STEP 4: To edit an existing item, click on the Edit button. Once you have made the necessary changes, click on the Save button. If you wish to remove the item permanently, click on the Delete button. Please ensure that you have selected the correct item for deletion as this action cannot be undone.

The risk type grouping tab helps you categorize different risks, while the risk type groupings allow you to classify these risks into clusters based on your specific Requirements.

• STEP 1: To add a new Risk Type Grouping, Click Add New and enter a name, Risk Types and a description.

• STEP 2: Click the Add button at the bottom once you have entered in a new Risk Type Group.

• STEP 3: To edit an existing item, click on the Edit button. Once you have made the necessary changes, click on the Save button. If you wish to remove the item permanently, click on the Delete button.