Ways to Organize and Filter Risks
Essential ERM provides multiple tools to help structure your risk data. You can use these methods independently or in combination.
1. Categories and Sub-Categories
The system includes default risk categories
Categories can be customized in the Category Administration screen
Sub-Categories are disabled by default but can be enabled by Admins in the Risk Categories admin screen
2. Risk Owner
Assign a Risk Owner using the dropdown in the Risk Details screen
Assigning ownership is a best practice in risk management
Most explorer screens and reports can be filtered by owner
3. Business Areas
Add Business Area tags from the Risk Details screen
Tags are managed in the Business Area admin screen
Use Business Areas to filter explorers, reports, and exports
Example: Create a tag like “Board Report” to group and report specific risks
4. Strategic Objectives
Access via the Strategy Explorer
Create Strategic Categories (e.g., Growth, Innovation)
Under each category, create Objectives (e.g., “Increase gross margin”)
Attach objectives to risks via the Strategic Objectives section in the Risk Details screen
Risks can be filtered by objective across the system
These mappings also populate the Strategy Explorer dashboard
5. Risk Thresholds
Set upper and lower Residual Risk thresholds by category
Managed via the Set Risk Thresholds admin screen
Once thresholds are defined, residual risk scores are automatically evaluated against them
The Enterprise Risk Console can be filtered by risks that are:
Above, within, or below threshold
Also powers the Risk Appetite dashboard
6. Risk Portfolios
Risk Portfolios offer two functions:
Control user access to specific risks and data
Enable an additional filtering method across explorers and reports
Admins manage portfolios in the Admin screen
Standard Users only see risks in portfolios they’ve been assigned
Portfolio filtering is available throughout the system
Note: Risk Portfolios are only available in certain account packages.
Applies to: Admin Users, Standard Users
Keywords: filter risks, organize risks, business areas, strategic objectives, thresholds, portfolios, categories, reports