GRC - Develop risk mitigation strategies and monitor risk metrics.

[abirakundu23]

Hi All,

How can i implement Risk mitigation strategies and Risk metrices ? How can monitor the risk metrics?

What steps need to follow ? How can we propose Risk mitigation approach ?

Any suggestion will be highly appreciate .

[Matthew_13]

Hi abirakundu23

Start by identifying the main risks in your ServiceNow processes incidents, changes, security, compliance, etc...... Document them in a risk register and assign an owner to each risk.

Next, define simple risk metrics (KRIs) that show early warning signs, like repeated SLA breaches, high-priority incidents, failed changes, or unresolved vulnerabilities. Set clear thresholds so you know when a risk is becoming serious.

Monitor these metrics using ServiceNow reports and dashboards. Automate alerts when thresholds are crossed so risks don’t go unnoticed.

For mitigation, decide how you want to handle each risk:

• Reduce it by improving controls, approvals, or automation

• Avoid it by stopping the risky activity

• Transfer it to a vendor or third party

• Accept it with proper approval and documentation

Finally, track mitigation actions in ServiceNow, review risks regularly, and adjust metrics as processes improve.

This keeps risk management practical and easy to maintain.

@abirakundu23 - Please give a Thumbs up and Accepted Solution if you fins Helpful!