Risk Statement Hierarchy Relationships

Dimitrios Boura
Tera Contributor

Hi All,

 

I have a client scenario where one child Risk Statement has more than one Parent Risk Statement.

 

The issue is that the Parent field on the Risk Statement form is a single reference field. 

 

Any idea, on what would be the best course of action to change the relationship from 1-to-many to many-to-many (Parent-Child Risk Statements)? And most importantly without affecting the OOTB calculations in terms of rolling-up aggregated risk scores on the Risk Statement Hierarchy.

 

Thank you in advance.

 

Kind regards,

Dimitrios

5 REPLIES 5

Community Alums
Not applicable

Hi @Dimitrios Bouras ,

That's the expected Behavior !! Parent field is a Reference field and can hold only one value at a time.

Risk managers and administrators create and view hierarchies on the risk statement form:

  • Define a parent risk statement using the Parent field
  • Add children risk statements using the Risk Statements related list
Note: Risk users can view the hierarchies established by the managers and administrators.
Hierarchical risk taxonomy showing integrated view of risk:image shows Sara head of Operation Risk and the taxonomies defined for operational risk, Sophia head of IT risk and the taxonomies defined for IT risk and the Chief risk officer looking at all the roll up scores.
The ideal approach for Risk relationships should be :
Parent Risk statements > Child Risk Statements > Each of these child Child Risk Statements , you can add more child Risk statements.
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Mark my answer correct & Helpful, if Applicable.

Thanks,

Sandeep

Hi Sandeep,

 

Thank you so much for your swift reply.

 

I do appreciate that this is how the OOTB functionality works. It has been set to have a 1-to-many relationship for Parent and Child Risk Statements.

 

The reason I created this post is because we have one use case where 1 Risk Statement should link with more than one Parent Risk Statements. The system will not allow me to do this.

 

Thus, I was wondering if anyone had come across a same requirement and how they tackled that deviation from the OOTB functionality without affecting the Risk Calculations. For example we can change the Parent field from a Single Reference to a Multi Reference, but I doubt that the Risk Aggregration/Roll-up calculations will work afterwards.

 

Thank you in advance for your answer.

 

Kind regards,

Dimitrios

Community Alums
Not applicable

Hi @Dimitrios Bouras ,

Unfortunately, what i mentioned above is the only way of achieving as of now!!

Mark my answer correct & Helpful, if Applicable.

Thanks,

Sandeep

Community Alums
Not applicable

 

Hi @Dimitrios Bouras ,

Any update to this ?Any follow-up required? if not

Kindly mark the answer as Correct & Helpful both such that others can get help.

Thanks,
Sandeep