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Observations and breaches

An observation is one value of an indicator for one date. The system places it in the Green, Amber or Red band; a Red observation needs an explanation and opens a breach that lands in the action register.

Who may do it: the indicator’s owner enters observations; the Entity Risk Manager follows the breaches. See Roles and permissions.

KRI: from observation to band and breachAn observation is typed in by the KRI owner, imported, or recorded from a BCP level in BCP Core. The system places it in the Green, Amber or Red band by the thresholds in force on its date. A Red observation needs an explanation and opens a breach, which creates an action item.Typed inby the KRI ownerImportedfrom the standard workbookBCP levelNormal → GreenStandby → AmberActivated → RedObservationvalue + dateband computedGreenwithin appetiteAmberearly warningRedexplanation requiredBreachaction item createdowner · due dateLEGENDSourceObservationSystem placesRed to breach
The band is derived from the thresholds in force on the observation's date. Red needs an explanation and opens a breach.

Entering an observation

Section titled “Entering an observation”
  1. Open the indicator, or your list of observations due.
  2. Enter the value and the date it relates to.
  3. The system shows the band the value falls in.
  4. If the band is Red, write the explanation: what caused it and what is being done.
  5. Save. Your name and the time are stamped on the observation.

Observations can also be loaded in bulk from the standard workbook, and the observations of external KRIs are recorded by BCP Core without anyone typing them.

When an observation is Red

Section titled “When an observation is Red”
  • The observation is a breach.
  • The system creates an action item in the action register, with an owner and a due date.
  • The breach stays open, with its age shown, until its action is closed.

Trend and breach views

Section titled “Trend and breach views”
  • Current status of every indicator, by band.
  • Trend — the observations over time, drawn against the bands that applied at each date.
  • Open breaches with their age, by entity and by risk.

What the system does or refuses

Section titled “What the system does or refuses”
  • The band is computed and cannot be chosen — see Computed, never typed.
  • A Red observation cannot be saved without an explanation.
  • Every breach creates an action item.
  • Who entered each observation is stamped, and an observation is never silently overwritten — see Who-filed is stamped.
Section titled “Related”