What is 'risk' in SAP SRM-CM - SRM Category Management?

risk - Overview

• Component: SRM-CM

• Component Name: SRM Category Management

• Description: An attribute representing an estimate of a program's or initiative's likely success or failure.

risk - Details

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  Key Concepts: 
  Risk in SAP SRM-CM Category Management is the potential for loss or damage due to an uncertain event. It is the likelihood of an event occurring that could have a negative impact on the organization. Risk can be managed by identifying, assessing, and mitigating potential risks. 
  
  How to use it: 
  In SAP SRM-CM Category Management, risk can be managed by identifying potential risks, assessing their likelihood of occurring, and mitigating them. This can be done by creating a risk register which outlines the risks associated with a particular category and their potential impacts. The risk register should also include strategies for mitigating the risks. 
  
  Tips & Tricks: 
  When creating a risk register, it is important to consider both the short-term and long-term impacts of the risks. Additionally, it is important to consider the cost of mitigating the risks versus the potential cost of not mitigating them. 
  
  Related Information: 
  Risk management is an important part of any organization’s overall strategy. It is important to understand how to identify, assess, and mitigate risks in order to ensure that the organization is prepared for any potential risks that may arise. Additionally, understanding how to manage risk can help organizations make better decisions and reduce their overall risk exposure.