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Risk and Risk Assessments - Coggle Diagram
Risk and Risk Assessments
Describe the nature of risk
Importance of risk
Optimal risk taking level
risk is the likelihood of an unfavorable event occurring
Applying Risks to a business
business function level
different view of risks
portfolio view
profile view
enterprise risk management
identifying risks
Assess risk
identification
categorization
prioritization
a risk statement
issue
possible outcome
Categorizing Risks
Internal risks
operational
financial
reputational
external risks
compliance
strategic
physical
risk inventory
Prioritizing Risks
Evaluating Risk Severity
likelihood
impact
Using Risk Formulas
Creating Risk Matrices
heat maps
Selecting a Risk Response
Assess the Risk
residual risk
inherent risk
Respond to the Risk
accept
mitigate
transfer
avoid