What is 'planned residual risk' in SAP GRC-RM - GRC Risk Management?

planned residual risk - Overview

• Component: GRC-RM

• Component Name: GRC Risk Management

• Description: The residual risk after mitigation assuming full effectiveness and completeness of all implemented risk responses.

planned residual risk - Details

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  Key Concepts: 
  Planned residual risk is a risk that is expected to remain after the implementation of a risk management plan. It is the risk that remains after all preventive and corrective measures have been taken. It is also known as residual risk or residual uncertainty. 
  
  How to use it: 
  In SAP GRC Risk Management, planned residual risk is used to identify and assess the risks that remain after all preventive and corrective measures have been taken. This helps organizations to identify and prioritize risks that need to be addressed in order to reduce their overall risk exposure. 
  
  Tips & Tricks: 
  When assessing planned residual risk, it is important to consider both the likelihood and the impact of the risk. This will help organizations to prioritize their risk management efforts and ensure that they are focusing on the most important risks. 
  
  Related Information: 
  SAP GRC Risk Management provides a comprehensive set of tools for assessing, managing, and monitoring planned residual risk. These tools include risk assessment templates, automated workflows, and reporting capabilities.