Events and Consequences

An event is any occurrence that impacts one or more risks you've defined. A consequence describes the impact of an event on a risk.

An event and its consequences may apply to risks in positive or negative ways. For example, a new regulation may be an event because it impacts risks you've defined to address cash flow, revenue, or customer satisfaction. One consequence of the event may be additional costs to bring a product into compliance. But another may be a gain in market share, if your organization can release a compliant product sooner than competitors.

To work with events or consequences, select Risk Management > Risks. There, an Events tab opens a Manage Events page, or a Consequences tab opens a Manage Consequences page. Each displays a list of events or consequences that have already been created; click the name of one of these items to view its details.