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In this “Features in 5,” we explore the importance of developing a risk action plan as part of an Enterprise Risk Management (ERM) program and how it’s accomplished in Origami Risk’s Governance, Risk & Compliance (GRC) suite.

As a next step after establishing a risk register, risk action plans allow a risk manager or their team to examine organizational risks on an individual basis, determine if steps should be taken outside of controls to prevent said risk from occurring, and break-down a brief or detailed mitigation plan. 

Essential to effective risk mitigation, risk action plans allow organizations to map the plans to risks, controls, frameworks, and more — a critical step that is challenging to accomplish with spreadsheets or shared documents. 

Effective risk action plans allow teams to easily:

  • Identify a set of tasks that have been determined to mitigate a risk
  • Ownership of individual tasks
  • Associated cost and impact,
  • Much more

In this one-and-a-half-minute video, see how easy Origami’s GRC suite makes accomplishing this and more.

See how your ERM program stacks up

Gauge your organization's ERM program and gain fuel for change with Origami's ERM Maturity Assessment. In only 17 questions,  you'll be on your way to a customized, actionable plan of attack.