What is 'risk value' in SAP GRC-BIS - SAP Business Integrity Screening?

risk value - Overview

• Component: GRC-BIS

• Component Name: SAP Business Integrity Screening

• Description: The maximum potential loss that can occur, given in monetary amounts.

risk value - Details

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  Key Concepts: 
  Risk value is a term used in SAP Business Integrity Screening (GRC-BIS). It is a numerical value assigned to a risk that indicates the severity of the risk. The higher the risk value, the more severe the risk. Risk values are used to prioritize risks and determine which ones need to be addressed first. 
  
  How to use it: 
  Risk values are assigned to risks based on their potential impact and likelihood of occurrence. The risk value is calculated by multiplying the impact of the risk by its likelihood of occurrence. The higher the risk value, the more urgent it is to address the risk. 
  
  Tips & Tricks: 
  When assigning risk values, it is important to consider both the potential impact and likelihood of occurrence. It is also important to consider any mitigating factors that could reduce the impact or likelihood of occurrence. This will help ensure that risks are accurately prioritized and addressed in a timely manner. 
  
  Related Information: 
  Risk values are just one way to prioritize risks. Other methods include assigning priorities based on urgency, cost, or other criteria. It is important to consider all available methods when determining which risks should be addressed first.