What is collaborative risk assessment in SAP GRC-RM - GRC Risk Management?

SAP Term: collaborative risk assessment

• Component: GRC-RM

• Component Name: GRC Risk Management

• Description: A risk assessment for which multiple users provide analysis data for the same risk. This is a workflow-driven activity triggered by the Risk Management Planner. The individual analyses are later consolidated into one single analysis for the risk, either automatically or by the user who is reviewing and is responsible for the risk.

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• Key Concepts:
  Collaborative Risk Assessment is a feature of SAP GRC Risk Management (GRC-RM) that allows organizations to assess and manage risks in a collaborative manner. It enables users to identify, analyze, and prioritize risks in an efficient and effective way. The tool also provides a platform for stakeholders to collaborate on risk management decisions.
  
  How to use it:
  To use Collaborative Risk Assessment, users must first create a risk assessment template. This template should include the risk categories, criteria, and weightings that will be used to assess the risks. Once the template is created, users can then enter the risks into the system and assign them to stakeholders for review. Stakeholders can then provide feedback on the risks and collaborate on risk management decisions.
  
  Tips & Tricks:
  When creating a risk assessment template, it is important to ensure that all stakeholders are included in the process. This will ensure that all perspectives are taken into account when assessing and managing risks. Additionally, it is important to ensure that the criteria used for assessing risks are clear and concise so that stakeholders can easily understand them.
  
  Related Information:
  SAP GRC Risk Management (GRC-RM) is a comprehensive risk management solution that helps organizations identify, analyze, and manage risks in an efficient and effective manner. It provides features such as automated risk assessments, real-time monitoring of risks, and reporting capabilities. Additionally, GRC-RM also provides tools for collaboration between stakeholders on risk management decisions.