Manage Risk

The process of understanding the risks an organization faces in pursuing its objectives and continuously monitoring and managing those risks. This RBPM discipline involves identifying key risks, assessing their potential impact and likelihood, implementing appropriate controls, and tracking risk indicators. It encompasses both threat mitigation and opportunity exploitation, recognizing that risk management is not solely about minimizing negative outcomes but also about enabling appropriate risk-taking. The discipline is supported by the Risk Map, Risk Scorecard, Control Map, and Control Scorecard.