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Configure ICS risks

Prepare a repository for ICS risks: decide which resource objects risks can be measured against, what makes a risk material for each, and which currency financial impacts use.

Prerequisites​

  • The ICS Style Risks Early Access feature, enabled by an administrator under Admin → Server Settings → Early Access — see ICS risks.
  • Repository administrator access to the Repository area.
  • The resource objects you want to designate already exist in the repository's Resources branch.

Steps​

All settings live on one page: in the Repository area, select Risks, then the ICS Risks tab.

Set the ICS risk currency​

Under ICS Risk Currency, select the edit icon, type the currency label (up to 25 characters), and confirm. All ICS risks in the repository show financial impacts in this unit — the Financial Impact Unit setting on the risks themselves is read-only.

Designate a risk-relevant object​

  1. Under Risk Relevant Objects, click Add. A new row appears.
  2. In the Object column, choose the resource object to designate.
  3. Set its numeric Materiality Threshold.
  4. Click Configure to open the Impact Class Definition panel. The default ranges — Low, Medium, and High with preset boundaries and colors — work as they are; adjust the boundaries, labels, and colors, or click Add Range for more classes, then click Save.
  5. Click the check button to submit the row. The object now appears as a choice on the Data tab of every ICS risk.

The ICS Risks tab in the repository configuration, with a configured risk-relevant object and the category threshold override section.

The Impact Class Definition panel with the default Low, Medium, and High ranges, their boundaries, and colors.

Change or remove a risk-relevant object​

  • Edit the materiality threshold with the edit icon next to its value, and the impact classes through View, then Save.
  • Remove a designation with the trash can icon at the end of the row, then confirm. The risk data recorded against that object disappears from its risks' Data tabs.

Override the threshold per risk category​

Risks in a category listed under Risk Category Materiality Threshold Override use the category's threshold in materiality calculations instead of the risk-relevant object's. Click the add button, choose a risk category, and set its threshold value.

Verify​

Open an ICS risk's Data tab and click Add — the designated object should be offered for linking. Data points recorded against it are classified material or not against the threshold you set — see ICS risks for the calculation.