The Objectives and Risk Screen is accessed by clicking the “Strategy” tab in the top menu bar. This screen allows Standard and Admin Users to create and view linkages between Risks and Strategic Objectives.
Linking Risks and Strategic Objectives is an excellent way to provide business context for Risks and to prioritize Risks for attention by business managers and executives. Linking Risks and Objectives is also a foundational best practice within the ISO 31000 standard for Enterprise Risk Management.
Within this screen, Objectives are grouped into Strategic Categories (sometimes called Strategic Pillars). Risks associated with each Objective are shown below the Objective in blue font. A Risk name can be clicked on to open the underlying Risk Details screen.
a. Creating and Editing Strategic Categories (Strategy Pillars)
The Objectives and Risks Console starts empty, as shown below.
Standard and Admin Users can click on the blue “add strategic category” link to open a field that will allow them to type and save the name of their first Strategic category. Once the User clicks the checkmark to save their entry, a new section will appear on the screen, as shown below.
Strategic Category names are intended to be short labels and can accept up to 60 characters in length. The User will see a character counter and will not be able to save labels longer than this limit.
The User can repeat this process to continue creating additional Strategic Categories. A separate section for each Strategic Category will be displayed vertically down the page in alpha-numerical order. Users may find it helpful to use a numbering or lettering system to control the specific order of Strategic Categories on this screen.
b. Creating and Editing Objectives
Once a Strategic Category has been created, Users can begin creating Objectives within the category. To do so, Users click the blue “add objective” link to open a field where they can enter the objective name and click the checkmark to save it.
Objective names can be up to 255 characters long. If a User enters an Objective name longer than this, only the first 255 characters will save the remaining text will be cut off.
(Please note that organizations using the optional Essential Strategy Module will have additional options for saving longer descriptions and properties of Strategic Objectives).
Once the Objective has been saved, the section will update as shown below.
Once the first Objective has been created, the blue “add objective” link no longer appears.
Users can add additional Objectives to the Strategic Category by clicking the menu button in the gray bar and selecting “Add Objective”.
Objectives will be ordered vertically in alpha-numerical order. Users may find it helpful to use a numbering or lettering system to control the specific order of Objectives in this screen.
To edit or delete an existing Objective, the User clicks on the objective name to open an editing field. The objective can be deleted by clicking the gray trash can that appears to the right of the edit field.