What is risk category in SAP IOT-ASM - Asset Strategy and Performance Management?

SAP Term: risk category

• Component: IOT-ASM

• Component Name: Asset Strategy and Performance Management

• Description: Specifies the level of potential impact to the environment or to the person involved while performing a step in an instruction.

Smart SAP Assistant

• Key Concepts: 
  Risk Category is a component of the SAP IOT-ASM Asset Strategy and Performance Management module. It is used to identify and categorize risks associated with assets, such as financial, operational, and environmental risks. Risk categories are used to help organizations prioritize and manage risks more effectively.
  
  How to use it: 
  Risk categories can be used to identify and categorize risks associated with assets. Organizations can use risk categories to prioritize and manage risks more effectively. Risk categories can be used to create risk profiles for assets, which can then be used to develop strategies for mitigating risks.
  
  Tips & Tricks: 
  When creating risk categories, it is important to consider the type of asset being managed and the potential risks associated with it. It is also important to consider the organization’s risk appetite when creating risk categories.
  
  Related Information: 
  The SAP IOT-ASM Asset Strategy and Performance Management module also includes other components such as asset performance management, asset strategy management, and asset risk management. These components can be used in conjunction with risk categories to help organizations manage their assets more effectively.