For most organizations, topics like risk management, performance, and compliance are gathered using different methodologies and tools. This makes it hard to even locate, let alone compare and aggregate, risk information.
With traditional GRC functions like vendor management, information security, compliance, audit, and more all relying on common information, risk management activities can easily become unnecessarily duplicative. This makes identifying and determining the most important risks subjective which, in turn, causes existing processes to become inefficient and ineffective.
In this eBook, we’ll walk you through the process of building a standardized risk governance structure, also known as a taxonomy, so that you can:
- Manage complexity where it matters
- Prioritize existing risk management activities with risk assessments
- Find unnecessary duplication and rework
- Satisfy multiple requirements with existing risk management activities
- Objectify conclusions to enable issue escalation
- Gain a panoramic view over disparate controls and tests