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

top risk - Overview

• Component: GRC-RM

• Component Name: GRC Risk Management

• Description: A risk that is at the top of a risk hierarchy.

top risk - Details

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  Key Concepts: 
  Top risk is a term used in SAP GRC Risk Management (GRC-RM) to refer to the most significant risks that an organization faces. It is a way of categorizing and prioritizing risks based on their potential impact and likelihood of occurrence. Top risks are typically identified through risk assessments and risk management processes. 
  
  How to use it: 
  Organizations can use top risk to identify and prioritize the most significant risks they face. This can help them focus their resources on the most important risks and ensure that they are adequately addressed. To identify top risks, organizations should conduct a risk assessment to identify potential risks and then prioritize them based on their potential impact and likelihood of occurrence. 
  
  Tips & Tricks: 
  When identifying top risks, it is important to consider both the potential impact of the risk as well as its likelihood of occurring. This will help ensure that the most significant risks are identified and prioritized appropriately. Additionally, it is important to regularly review and update top risk lists as new information becomes available or circumstances change. 
  
  Related Information: 
  For more information on top risk, please refer to SAP’s GRC Risk Management documentation. Additionally, there are many resources available online that provide guidance on how to conduct risk assessments and prioritize risks.