SAP Risk Management enables an enterprise-wide risk management process as mandated by certain legal requirements and recommended by best practice management frameworks. SAP Risk Management uses the various work centers of the GRC, in which you can carry out all Risk Management activities. Risk Management 10.0 is part of newly released SAP Governance Risk & Compliance (GRC) 10.0 which also comprised of Access Control 10.0, Process control 10.0, and Global Trade Services.
New and Enhanced Features: Released Notes
SAP BusinessObjects Risk Management 10.0 includes the following new features and enhancements:
- Multiple stakeholders can now participate in collaborative risk assessment, which improves productivity by reducing administrative time spent conducting workshops, by aggregating participant feedback, and by documenting risk assessment results.
- The graphical view provides a visual workbench for non-experts to model risks and their relationship to business impacts and responses, and bridges the gap between risk management and the business functions of an organization.
- By allowing risks to be assigned to corporate policies and enabling procedures to be assigned as risk mitigations, integration with policy management ensures that the company is appropriately mitigating the risks required to comply with the corporate policies currently in its residual risk profile.
- Integrated issue management documents and follows up on issues identified for risks, activities, responses, opportunities and scenarios.
- The risk catalog serves as a repository for risk templates and best-practice responses to risks. The catalog distributes risks across the organization and provides a unified view on risks across the enterprise.
- The response catalog is a repository for best-practice risk responses to mitigate, transfer, and avoid risk.
- Risk scoring is a new assessment tool that uses a point system approach to complement qualitative and quantitative risk assessment methods, thus making it easier for non-experts to assess risk.
- Enhanced overview dashboards provide greater usability and aggregation capabilities when analyzing loss structure and reviewing risks.