Risk Radar Overview
Proactively identify, track, and mitigate organizational risks with AI-powered monitoring, Key Risk Indicators, and automated alerts.
What is Risk Radar?#
Risk Radar is PromptReports' comprehensive risk management system. It helps organizations identify emerging risks, track their evolution, monitor Key Risk Indicators (KRIs), and take proactive mitigation actions before risks materialize into problems.
Unlike reactive risk management, Risk Radar provides continuous monitoring that surfaces risks early, connects related risks to reveal systemic issues, and ensures nothing falls through the cracks.
For Risk Professionals
- Centralized risk registry with full audit trails
- Quantitative KRI tracking with trend analysis
- Automated alerts when thresholds are breached
- Risk relationship mapping for systemic analysis
- Integration with data feeds for real-time monitoring
Key Capabilities#
Risk Tracking
Maintain a comprehensive registry of all organizational risks with severity, status, and ownership.
Key Risk Indicators
Define and monitor quantitative KRIs with thresholds, trends, and historical data.
Alert System
Receive notifications when risks escalate, KRIs breach thresholds, or action is needed.
Mitigation Planning
Document and track mitigation strategies, action items, and their effectiveness.
Risk Relationships
Map connections between risks to identify systemic issues and cascading effects.
Risk Analytics
Visualize risk distribution, trends, and exposure through interactive dashboards.
Risk Tracking#
The risk registry is the central hub for all identified risks. Each risk includes:
| Field | Description | Example |
|---|---|---|
| Title | Brief name for the risk | Supply Chain Disruption |
| Description | Detailed explanation of the risk | Dependence on single supplier... |
| Category | Risk type classification | Operational, Financial, Strategic |
| Severity | Impact level if materialized | Critical, High, Medium, Low |
| Likelihood | Probability of occurrence | Very Likely, Likely, Possible, Unlikely |
| Status | Current state of the risk | Active, Monitoring, Mitigated, Closed |
| Owner | Person responsible for the risk | VP of Operations |
| Related Risks | Connected risks for systemic view | Linked to vendor concentration risk |
Identify the risk
Assess severity and likelihood
Assign ownership
Define KRIs
Plan mitigation
Key Risk Indicators#
Key Risk Indicators (KRIs) are quantitative metrics that provide early warning signals when risks are increasing. Effective KRIs enable proactive management rather than reactive firefighting.
| Risk | Example KRI | Threshold |
|---|---|---|
| Vendor Concentration | Revenue % from top vendor | > 30% = warning |
| Cybersecurity | Failed login attempts per day | > 100 = alert |
| Cash Flow | Days of runway | < 90 days = critical |
| Employee Retention | Monthly turnover rate | > 5% = warning |
| Compliance | Days since last audit | > 365 days = overdue |
KRI Best Practices
- Quantitative: Numbers, not subjective assessments
- Timely: Available frequently enough to enable action
- Relevant: Directly linked to the underlying risk
- Threshold-driven: Clear points where action is required
Alerts & Monitoring#
Risk Radar's alert system ensures the right people are notified when attention is needed:
Threshold Alerts
Automatic alerts when KRIs breach defined warning or critical thresholds.
Scheduled Digests
Daily or weekly summaries of risk status and changes.
Escalation Alerts
Notifications when risk severity or likelihood increases.
Action Reminders
Reminders for overdue mitigation tasks and reviews.
Configure alert preferences to receive notifications via:
- Email (immediate or digest)
- In-app notifications
- Webhooks to external systems