SAP Enterprise Risk Management Process Framework
Risk planning: For each business activity, what are we trying to achieve, what are the assumptions and constraints, and what risks do we want to monitor?
Risk identification and analysis: For each business activity, we identify the risks. For each risk we look at the nature of the risk, its probability of occurrence, and the quantitative and qualitative aspects of the risk.
Risk response: Is there anything we can do to reduce, mitigate, or even remove the risk? How much will this cost? What is the potential ROI of taking this step? Who’s responsible for making sure that the response happens?
Risk monitoring: In this step, we continuously track and monitor each of the risks and analyze any risks that, despite our efforts, turn into incidents.
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