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Contract Risk Conditions Table

This table stores records that are generated when the Trigger Risk Conditions button is clicked within a Contract record. Templates in the Risk Conditions table are used to evaluate the contract's risk in relation to risk condition and weighting. 

Use Case

Contract Managers can evaluate common risks within a contract using the conditions defined in the Risk Conditions table, and can then create Contract Risk Conditions specific to the current contract. When the Contract Manager uses Trigger Risk Conditions within a Contract, the evaluation of the current contract is assessed using the Risk Conditions that are already define, and records are generated in the Contract Risk Conditions table that show the Risk Assessment of the current contract. The Risk Assessment is usually a decimal value that can range from 0-1. 

Within the Contract Risk Conditions record, the value in the Weighting field is assigned based on the standard Risk Condition weighting. The standard Risk Condition weighting is used to increase or decrease the impact that a specific risk can have on the Contract record.

If a condition changes within the contract, the Trigger Risk Conditions button will re-asses the risk of all conditions.

Contract Risk Condition records can be opened from the related Contract record in order to view the Risk Calculation that was used, the total Risk Assessment for the current contract, the Weighting for the current risk, and the Weighted Rating (Risk Assessment x Weighting). The overall risk for all Contract Risk Conditions is assessed on the Risk Details tab. 

Ownership

Records are owned by their Creator. Admins and Business Admins can create and edit Contract Risk Conditions. Contract Managers can only view Contract Risk Condition records.

Automation

There are no rules within the Contract Risk Conditions table. All automation is handled by the Trigger Risk Conditions button within a Contract record.

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