What is risk assessment in SAP (FS-PM - Policy Management)?

SAP Term: risk assessment

• Component: FS-PM

• Component Name: Policy Management

• Description: The evaluation of a risk on the basis of objective risk characteristics probability of death, accident, or disability and an individual assessment of the applicant age, gender, state of health, previous illnesses, profession, and so on.

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• Key Concepts: 
  Risk assessment is a process used in FS-PM Policy Management to identify, analyze, and evaluate potential risks associated with a particular policy. It involves analyzing the potential impact of a policy on the organization, its stakeholders, and the environment. The goal of risk assessment is to identify and mitigate risks before they become an issue. 
  
  How to use it: 
  Risk assessment can be used to evaluate the potential impact of a policy on the organization, its stakeholders, and the environment. It involves analyzing the potential risks associated with a particular policy and determining how to mitigate them. Risk assessment can be done manually or through automated tools such as SAP FS-PM Policy Management. 
  
  Tips & Tricks: 
  When conducting a risk assessment, it is important to consider all potential risks associated with a policy. This includes both direct and indirect risks. Additionally, it is important to consider the potential impact of a policy on the organization, its stakeholders, and the environment. 
  
  Related Information: 
  For more information on risk assessment in SAP FS-PM Policy Management, please refer to the SAP Help Portal or contact your local SAP representative.