Issue Management

Ensures all issues are being captured, tracked and monitored by assigning ownership to each issue and any remediating actions with scheduled notifications 

Reduces the time it takes to resolve issues by having a clear view of all the relevant information and the areas of the business they effect

Reduce the risk of incidents from non-compliances, saving costs associated with incident response, direct losses and reputational damage


Client challenges:

Issue management involves identifying and remediating issues, an issue is any event that has already occurred that had a negative effect to the business and its ability to manage risk. Issues can be identified from various events such as a control weakness finding, a loss event or a key risk indicator failure. An issue can either be resolved by adding and tracking remediating actions to fix the underlying cause or accepted by creating an exception for the issue. Assigning ownership and documenting any findings aids issue management to provide a clear view and accountability.  
The main goal of issue management is to identify the cause or trigger for any issues to prevent them from reoccurring in the future. This can be done in the following stages:
  1. Identify the issue and log any data
  2. Create remediating actions and assign ownership and target dates
  3. Assess the remediation progress 
  4. Issue has been resolved and closed or accepted
Many organisations often document their issues in an unorganised manner. This prevents a clear risk management view by reducing the visibility of the status of any existing issues and the effectiveness of their remediating actions. This lack of visibility can lead to inaccurate data, decreasing the value of reporting as management cannot be sure that the remediation plans in place actually reduce the underlining issue. Having a consolidated issue management approach that documents all actions, tasks, findings and impacted business areas allows organisations to focus on the remediation of issues rather than the tracking and consolidating of data.    

  • Link issues to assets, processes, risk or controls to show the where the issue will impact your organisation
  • Report on issues classifying by impact and urgency to prioritise issue management with the ability to group by business area and issue type
  • Raise, assign and track remediation actions by their status and progress with notifications and email reminders

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