Define the risk appetite for a risk

Define the risk appetite on the risk records in the Risk Management application to evaluate all possible risks and to set the boundaries for acceptable and unacceptable risks.

Before you begin

Role required: sn_risk.user

About this task

Risks inherit the appetite value from the associated risk statement. Risk owners can also define the risk appetite and tolerance on the risk form when there’s a business requirement to override the parent value. For more information on the risk appetite and tolerance, see Risk appetite and tolerance in Advanced Risk.

Procedure

1. Navigate to All > Risk > Risk Workspace.

2. Select the list icon

1. Define the risk appetite for a new or an existing risk:

   • To define the risk appetite for a new risk, select New.
   • To define the risk appetite for an existing risk, select and open the required risk record.
   • On the risk form, select the Risk Appetite section and fill in the fields.

   For a description of the field values, see Risk appetite fields on the Risk form.

2. Select Save.

3. Risk appetite fields on the Risk form
   Learn about the risk appetite fields on the Risk form. Use these fields to define the risk appetite, evaluate all the possible risks, and set the boundaries for acceptable and unacceptable risks in the Risk Management application.

Parent Topic:Using the Risk Workspace