What is risk level in SAP GRC-SPC - GRC Process Controls for SAP?

SAP Term: risk level

• Component: GRC-SPC

• Component Name: GRC Process Controls for SAP

• Description: A measure of risk indicating the priority of the risk, based on the probability and potential impact of an event. Possible risk levels include Low, Medium, High and Critical.

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• Key Concepts:
  Risk level is a term used in SAP GRC Process Controls for SAP to refer to the likelihood of a risk occurring. It is based on the probability of a risk event occurring and the potential impact of that event. Risk levels are typically categorized as low, medium, or high. 
  
  How to use it:
  Risk levels are used to prioritize risks and determine the appropriate response. For example, if a risk is categorized as high, then it should be addressed immediately. On the other hand, if a risk is categorized as low, then it may not require immediate action. 
  
  Tips & Tricks:
  When assessing risk levels, it is important to consider both the probability of an event occurring and its potential impact. This will help ensure that risks are accurately categorized and that appropriate responses are taken. 
  
  Related Information:
  Risk levels are just one part of the overall risk management process. Other important components include identifying risks, assessing their impact, and developing strategies to mitigate them.