Risk Methodology
Risk Methodology in the context of Enterprise Risk Management (ERM) refers to the structured framework or set of principles embedded within the software that guides the identification, assessment, analysis, and treatment of risks. It defines how risks are measured—typically through impact, likelihood, and control effectiveness—and ensures consistency in evaluating and responding to risks across the organization. The methodology may align with recognized standards such as ISO 31000 or COSO, allowing for regulatory compliance and best practice adoption. By standardizing risk evaluation processes, this feature enhances transparency, comparability, and decision-making, enabling organizations to manage risk in a systematic and repeatable manner.
