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Risk Assessments

Risk assessments evaluate the likelihood and impact of identified risks.

What is a Risk Assessment?​

A risk assessment is a structured evaluation that determines:

  • How likely is the risk to occur?
  • What would be the impact if it occurred?
  • What is the overall risk score?
  • What risk level does this represent?

Assessment Types​

Inherent Risk Assessment​

Evaluates risk before any controls are applied.

  • Represents the "raw" risk level
  • Baseline for measuring control effectiveness

Residual Risk Assessment​

Evaluates risk after controls are applied.

  • Shows current risk exposure
  • Guides further treatment decisions

Performing an Assessment​

  1. Open a risk
  2. Go to Assessments tab
  3. Click New Assessment
  4. Select assessment type (Inherent/Residual)
  5. Complete the assessment form
  6. Save

Assessment Fields​

Gover uses customizable assessment fields:

Default Fields​

FieldDescriptionScale
LikelihoodProbability of occurrence1-5
ImpactSeverity if it occurs1-5

Custom Fields​

Add custom fields for your methodology:

  • Financial impact
  • Reputational impact
  • Operational impact
  • Recovery time
  • Detection capability

Risk Score Calculation​

Risk scores are calculated using formulas:

Simple Formula​

Risk Score = Likelihood × Impact

Custom Formulas​

Create complex formulas using:

  • Multiple fields
  • Weighted calculations
  • Custom operators

Example:

Score = (Likelihood × 0.4) + (Impact × 0.6)

Risk Levels​

Scores map to risk levels:

Score RangeLevelColor
20-25Critical🔴 Red
15-19High🟠 Orange
10-14Medium🟡 Yellow
5-9Low🟢 Green
1-4Very Low🔵 Blue
info

Risk level mappings are configurable in Risks → Settings → Formulas.

Assessment History​

Track assessments over time:

  • View all past assessments
  • See score trends
  • Compare inherent vs residual
  • Identify improving/worsening risks

Bulk Assessments​

Assess multiple risks at once:

  1. Select risks in the list view
  2. Click Bulk Actions → Assess
  3. Complete assessment form
  4. Apply to all selected

Best Practices​

  1. Be consistent — Use the same criteria across assessments
  2. Document rationale — Explain your scoring decisions
  3. Reassess regularly — Risk levels change over time
  4. Compare inherent/residual — Measure control effectiveness
  5. Involve stakeholders — Get input from risk owners

Next Steps​