How Does Risk Management Work?
Definition
Software identifying, assessing, and mitigating business risks including operational, financial, security, and compliance risks. Risk management platforms provide risk registers, heat maps, mitigation tracking, and reporting for board-level visibility."
Why This Matters
Risk management software systematically identifies, assesses, and mitigates business risks. For regulated industries and enterprises, documented risk management supports governance and compliance obligations.
Related Terms
Showing semantically related terms from our RFP knowledge graph. Priority connections are highlighted.
Essential Connections
Compliance Risk
Security & Compliance
Potential for violating regulations, standards, or contractual obligations resulting in fines, restrictions, or reputational damage.
Security Audit
Security & Compliance
Independent examination of security controls, policies, and practices verifying compliance with standards like SOC 2, ISO 27001, or industry regulations.
Business Continuity
Security & Compliance
Strategies ensuring critical business operations continue during and after disruptions through redundant systems, alternative processes, emergency protocols, and crisis management plans.
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Related RFP Templates
These 2 templates include questions about risk management