'Standard' Risk vs Advanced Risk features

[Valqe]

Hello,

New to IRM space and aware that enabling 'Advanced Risk' property introduces new process in risk assessment utilizing RAM, but before I upgrade I want to 'waste' all options related to 'Standard Risk' 🙂

1) Is advanced risk (RAM) the only way to take (dynamic) advantage of Inherent/Residual Heatmap reports from "Risk Overview" dashboard? I ask this since such reports existed even before 'Advanced Risk' is enabled, yet so far, at leased based on my limited understanding, they solely depend on initial 'Risk Statement' values rather than from 'Risk Assessment' responses? Since heatmap reports depend only on "Impact" and "Likelihood" values, then from what I'm understanding "Inherent Risk Heatmap" and "Residual Risk Heatmap" are not so dynamic if you're not using advanced risk. They solely depend on initial 'Risk Statement' values rather than from assessed risk results. Am I correct on this statement?

2) If I continue utilizing non advanced risk, is there a way of creating "Assessment" records which once responded  on "Risk Assessment" record they will affect risk's Impact and Likelihood values?

3)Is upgrade to 'Advanced Risk' an absolute recommendation and are there exceptions when you choose not to upgrade to it ? 

@Community Alums I appreciate your comments

Thank you

[Community Alums]

Hi @Valqe ,

You will need to check the Product Documentations for both the Features for that first to understand what suits the best for you :

Classic Risk Management: https://docs.servicenow.com/bundle/washingtondc-governance-risk-compliance/page/product/grc-risk/con...

Advanced Risk Management:  https://docs.servicenow.com/bundle/washingtondc-governance-risk-compliance/page/product/grc-risk/con...

And for your requirements you listed above , you will definitely need Advanced Risk.

[Community Alums · Accepted solution]

Hi @Valqe ,

Also, watch this video : https://www.youtube.com/watch?v=N5n-yX9xQDA

[Valqe]

@Community Alums thanks a lot for your comments. I appreciate it.

[Community Alums]

Glad to see that, i could be part of your learning journey 😊