Risk appetite, Risk Tolerance, Target Risk, Smart Assessments, Risk Assessment Scheduler

[AmeetPatra1]

Hi all,

Can anyone provide a meaningful use case around risk appetite, risk tolerance and target risk assessment.

Also perhaps steps to configure these.

And finally with smart assessment engine, what is the significance of utilizing RAM anymore? And even if we use smart assessments , how will they get related to entities and entity classes?

Also, is the best way to perform advanced risk assessment, is by utilizing Risk Assessment Scheduler / Risk Assessment Scope and not directly by using the Assess button within Risk form? If we are giving demo to a client, which is the best option?

[AditiV]

Hello,

For Risk Appetite tolerance you can refer this link 

https://www.servicenow.com/community/grc-forum/risk-appetie-and-tolerance/m-p/2688979


smart assessment engine, what is the significance of utilizing RAM anymore? And even if we use smart assessments , how will they get related to entities and entity classes? 

Answer - Smart assessment engine is introduced in RAM , but the process remains same.
There is no change in process. Only when RAM it triggered it redirects to Risk Workspace where entity owner or Assessor can fill the Assessment through Smart Assessment.

is the best way to perform advanced risk assessment, is by utilizing Risk Assessment Scheduler / Risk Assessment Scope and not directly by using the Assess button within Risk form? If we are giving demo to a client, which is the best option?

I can answer this question 
It completely depends on client requirement,
Usually Risk Assessment scheduler we use to schedule the Risk Assessment automatically RAM is triggered for particular Entity.
For e.g. there is a XYZ company who performs risk Assessment annually there you can suggest them to use Risk Assessment scheduler as automatically after set date time RAM is triggered.
If there requirement is to trigger manually they can directly use Assess button in Risk form.

Please mark helpful if it my answer is helpful for you.