Manage causes and consequences of your risks

Written by Natalia Molina | April 03, 2023

We know that in risk management, it is important to identify the causes and consequences as they help us to have a deeper understanding of the risks that exist and allow us to take preventive measures and mitigate the impact of risks on the organization.

Causes: These are the factors or events that can cause a risk, i.e., what can trigger a situation of danger or uncertainty. Causes can be internal or external to the organization, for example some internal causes are lack of personnel training, poor planning and lack of machinery maintenance, while external causes can be changes in the market, natural disasters and political changes, among others.

Consequences: These are the effects that can be derived from a risk that materializes. Consequences can be positive or negative, depending on the type of risk and the impact it has on the organization. Negative consequences may include financial losses, reputational damage and legal sanctions, etc. Positive consequences may include growth opportunities, improvements in operational efficiency, development of new skills, etc.

These are the benefits and functions you will find 📋

Create and monitor

Now you will be able to create, edit and properly monitor the causes and consequences of your risks with the new specialized "Causes and consequences" section. You will be able to assign a name to identify each register, indicate whether it is a cause or a consequence, choose between different types of categories for each register and add a description to guide the user on the nature of the register.

Associations

Now you will be able to associate these registers to the corresponding risks, controls and events from the causes and consequences section, in order to monitor the origin and effect of the risk within the organization and processes. You will also be able to associate a responsible person to each cause and consequence created so that he/she can supervise its evolution.

Wait...you still don't use Pirani? 👀

Discover how simple it is to manage the causes and consequences of your risks with Pirani. Try our tool for gratis and tell me in the comments of the article what you think about our causes and consequences section.

Bulk import

You will be able to import easily and in bulk, thousands of registers of causes and consequences in a single file. You will also be able to update them and associate them directly with the risks in a single upload.

We created a detailed tutorial for you

In this article I told you about the main features of our causes and consequences section but if you want to know in more depth how to create the causes and consequences for your risks I leave you this tutorial where I explain in detail everything related to this topic ;).

⚡ Recuerda que podrás disponer de esta sección desde el plan Starter.

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