What is performance plan in SAP GRC - Governance, Risk and Compliance?

SAP Term: performance plan

• Component: GRC

• Component Name: Governance, Risk and Compliance

• Description: A performance plan contains a group of actions, called performance steps, used to report issues and download or upload forms needed to execute an internal control.

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• Key Concepts: 
  A performance plan in SAP GRC Governance, Risk and Compliance is a document that outlines the goals and objectives of an organization. It is used to measure the performance of the organization against its goals and objectives. The performance plan also outlines the strategies and tactics that will be used to achieve these goals. 
  
  How to use it: 
  The performance plan should be created by the organization's leadership team and should be reviewed regularly. It should include measurable goals and objectives, as well as strategies and tactics for achieving them. The performance plan should also include a timeline for when each goal or objective should be achieved. 
  
  Tips & Tricks: 
  When creating a performance plan, it is important to ensure that it is realistic and achievable. It should also be flexible enough to accommodate changes in the organization's environment or objectives. Additionally, it is important to ensure that all stakeholders are involved in the process of creating the performance plan. 
  
  Related Information: 
  The performance plan should be closely linked to the organization's risk management strategy. This will ensure that any risks associated with achieving the goals and objectives outlined in the performance plan are identified and managed appropriately. Additionally, it is important to ensure that the performance plan is aligned with other organizational strategies, such as financial planning or strategic planning.