The Risk Chart serves the purpose of preserving the information on a given risk and contains in particular the following data:
a) the risk designation and categorisation,
b) the risk owner,
c) the most often occurring effects of the risk materialisation,
d) values set for the risk parameters, as KPI (key performance indicator), KRI (key risk indicator),
e) description of the risk current risk infrastructure, strategy and actions for managing the risk,
f) risk probability and impact before and after applying the risk-management strategy,
g) assessment of the adequacy of current risk-management strategies and actions,
h) description of the actions planned.
Maintaining and updating the Risk Chart for the given risk should be the responsibility of the Risk Owner, however, this is the issue of the specific ERM (Enterprise Risk Management) scheme whether the Risk Committee is established and what endorsements are required at the Risk Committee level.