Difference between Risk State and Risk Status?

[Nazia1]

HI ,

I am trying to understand difference between Risk state and Risk status in Risk Table.

As per documentation this is the definition but it would be great if someone can provide a better insights on why there are 2 fields and how its it beneficial.

State	Current state of the risk. All new risks are created in the Pending state. The available states are: Pending, Open, Work in Progress, Closed Complete, Closed Incomplete, and Closed Skipped
Risk status	Status of the risk. The available options are: Pending, Achieved, Not Achieved, Avoid, Mitigate, Transfer, and Accept.

[TJ23]

Another thing ServiceNow has done without thinking much about in SPM.

Here's how I will be implementing the process for my clients. 

Also I do no particularly like the "Achieved", "Not achieved" terms.. I would replace with "Occurred / Averted" or something like that 

State	State Description	Status Options	Additional Notes
Pending	Risk has not been reviewed or assessed yet.	Pending	Default state for newly created risks. No risk response has been chosen.
Open	Risk has been reviewed and deemed to be a valid risk.	Accept, Mitigate, Transfer, Avoid	A decision record may be created to confirm / authorize/ document risk response, after which the appropriate risk response is selected on the risk record.
Work in Progress	Work to implement the risk response is in progress. The assigned to field is set.	Mitigate, Transfer, Avoid	State is set to WIP to take action on the risk response that was decided. If WIP is selected, Accept status should not be available. The state should remain open until it is "achieved" or "not achieved"
Close Complete	The risk has been addressed or resolved successfully (e.g., mitigated, avoided, or occurred and was handled).	Achieved, Not Achieved	Select Not Achieved, if the risk response was implemented successfully and the risk no longer exists as a result. Select Achieved if the risk was fully addressed but still ended up leading up to an issue.
Closed Incomplete	The risk was not fully addressed or resolved, and no further action is planned.	Achieved, Not Achieved	Select Not Achieved if the risk response was NOT implemented successfully or only partially addressed BUT did not result in an issue. Set status to Achieved if the risk response was NOT implemented successfully or only partially addressed, leading to an issue
Closed Skipped	The risk is no longer relevant for reasons unrelated to mitigation, avoidance, or transfer.	Not Achieved	E.g. Project got cancelled or the circumstances of the risk changed (for example, political)