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Frequently Asked Questions | My Risk Assessment

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What does My Risk Assessment cost?

My Risk Assessment has three subscription tiers: Bronze, Silver, and Gold. NRMC Affiliate members receive a discount on their subscription (noted in parentheses below).

  • Bronze: 3 content modules, 1 year subscription - $249 ($200)
  • Silver: All content modules (13 total), 1 year subscription - $299 ($239)
  • Gold: All content modules (13 total), 2 year subscription, year-over-year comparison feature - $349 ($279)

For a more detailed description of thefeatures and cost of each subscription tier, click to the Subscibe page.

If you are interested in purchasing multiple subscriptions for My Risk Assessment, there are bulk purchasing options available for the Gold subscription tier only. Bulk purchases are pre-paid - the purchaser pays for all the subscriptions up front.

  • 25 to 49 subscriptions - $200 per subscription
  • 50+ subscriptions - $150 per subscription

I see that NRMC offers several different web applications. What is the difference between My Risk Assessment, My Risk Management Plan, and My Risk Management Policies?

These three web applications are designed to complement each other to help your organization increase its capacity to address risk management issues. All three applications address similar content areas related to risk management but have different approaches that address risk management needs from different perspectives. Looking at risk from all three perspectives creates a well-rounded approach to risk management in your organization.

  • My Risk Assessment will help you evaluate your existing risk management practices and identify potential opportunities for improvement. The report generated from the assessment gives advice on how to strengthen these areas. My Risk Assessment can also assist your team in identifying and prioritizing risks to your organization. The application generates an aggregated list of risks from your team that can be used as the catalyst for further discussion about risk management.
  • My Risk Management Plan assists you in documenting your organization’s approach to risk management and all the functional areas where it is a concern. As you work through the content modules in the application, it provides a guide for writing a cohesive, consolidated document that covers risk management in your organization. Once complete, you can offer the plan as an explanation of your commitment to risk management.
  • My Risk Management Policies is a great reference and management tool for policy creation and documentation in your organization. This web application provides a central location for your team to craft and save risk management policies. My Risk Management Policies has a list of policy templates that are used to help you create custom policies specific to your organization. Each template contains segments that you can select to include in the policy as well as segment customization that allows you to add information to the template. All policies can be exported for inclusion in policy handbooks or other organizational documentation.

Who in my nonprofit should use My Risk Assessment?

My Risk Assessment is very accommodating in who uses the tool. There may be one person in your organization that has primary responsibility for risk management and may choose to take on the assessment process. You could also choose to approach the assessment collaboratively and add team members to complete or review assessment modules.

The Risk Ranking activity is primarily designed to be used with input from multiple perspectives. For example, you could add team members from your board or from your organization and have them select and rank risks. The account administrator can then export the aggregated list for review and discussion by the team.

There are a number of approaches to how organizations may utilize individuals or teams in My Risk Assessment. This tool is flexible in how you can manage access to the various features.

Can multiple staff at my agency use this web application?

Yes! Each organization has an Account Administrator--the person who is able to add additional users.

There are two ways to engage colleagues in My Risk Assessment: 1) inviting others to identify and rank top risks, and 2) asking others to complete specific modules. Both forms of engagement beging with a single step: Create a Team. Invited team members will receive an email with log-in instructions.

Team members and account administrators have different access to various features in My Risk Assessment.

Team members can:

  • Edit and review assessment modules (as assigned by the account administrator)
  • Select risks in the risk ranking activity
  • Rank risks in the risk ranking activity

Account administrators can:

  • Add and manage team members
  • Edit and review assessment modules (as assigned by the account administrator)
  • Organize, view, and export reports and executive summaries
  • Create and manage new versions of risk assessment (available only in Gold subscription)
  • Add up to two risks to the existing list in the risk ranking activity
  • Select risks in the risk ranking activity
  • Rank risks in the risk ranking activity
  • View and export the results of the risk ranking activity

Where does the advice in My Risk Assessment come from?

The team at the Nonprofit Risk Management Center has developed all of the content for My Risk Assessment. The content is based on our 25+ years of advising mission-serving nonprofits covering a wide spectrum of services and purposes.

How does My Risk Assessment differ from a Risk Assessment facilitated by NRMC consultants?

My Risk Assessment is an affordable, powerful 'self-help' tool that helps nonprofit teams identify and rank risks, and receive feedback on risk management action items based on the team's answers to specific questions. Users of previous versions of this web application tell NRMC that the advice contained in the system's final report is relevant and thoughtful. Many different types and sizes of organizations have found earlier versions of My Risk Assessment very helpful.

NRMC also offers 'hands-on' Risk Assessment services as part of its Consulting Practice. These engagements typically involve one hour interviews with 30 or more representatives of an organization, the review and redilining of specific risk policies, coaching for risk champions, and presentations to leadership teams. The minimum fee for a Risk Assessment is $28,000 plus actual travel expenses. To learn more about NRMC consulting and Risk Assessment services, visit www.nonprofitrisk.org/consulting/.

Why should I consider a two-year license to My Risk Assessment?

NRMC is pleased to offer three subscription levels for My Risk Assessment. Choose the Bronze subscription if you want to rank risks and complete a single assessment covering three areas of operations. Choose the Silver subscription if you want to conduct an assessment covering 13 areas of activity and operations. Choose the Gold subscription if you want to conduct an assessment covering 13 areas of activity and operations, and refresh your assessment and compare the results in one year's time. 

How long does it take to complete each module?

The modules vary in length, but generally each module will take between 20-30 minutes to complete, depending on your familiarity with the subject matter. 

I have used an earlier version of My Risk Assessment. How is this version different?

If you have used My Risk Assessment before, there are some additions that build on the risk management assessment process that you will recognize from a prior version.

There are two major feature additions to My Risk Assessment. First and foremost, Risk Ranking is a brand new feature designed to help your team identify, rank, and prioritize risks in your organization. The end result is a list of risks that indicates the number of team members concerned about that risk as well as the relative level of concern across the entire team. Second, My Risk Assessment now enables you to create an assessment that compares a new version to a previous version so that changes in your assessment are highlighted. This comparsion report is available at the Gold subscription level.

Along with the new features, My Risk Assessment has expanded the number of content modules to address new risk categories. In addition to new modules, existing modules have been revised with new questions and advice in the report. Finally, you can now generate an executive summary to complement the report. The executive summary highlights some of the most critical opportunities for your organization to address.

My Risk Assessment looks really interesting! How can I see more about the features and how they work?

You have two options! You can watch the video demonstration below or contact us and we can set up a demonstration just for you!