APACE
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Risk Matrix

The Risk Matrix maintains the full risk details that are to be used in scoring risks at Planning Model level and in determining the audit frequencies associated with ranges of risk scores.

There are two screens involved. The first screen (below) allows the user to create/change the maximum score achievable, the score ranges for selected audit frequencies and the number of sections in the array (maximum of six) with their descriptions and weightings.

This second screen determines, for each section defined in the initial screen, the number of risks (up to six) and the description, weighting and score range (1 to 99) for each risk.

Effectively you have 36 independent risks you can apply.

apace audit software risk matrix sample screen

 

The current risk status of each planning model entity can be maintained within APACE (both the scores and any associated narrative).

You are, in fact, prompted to amend the current risk assessment upon completion of an associated job, but can also postpone such actions to a later date.