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Oracle Modern Best Practice—Risk to Readiness
- Overview
- Security Design
- Continuous Assurance
- Reporting Compliance
- Risk to Readiness
Risk Identification to Organization Readiness
Understanding business risks helps you establish priorities and optimize resources to prepare for the unexpected, so that your leadership team can respond with agility for organization resilience. Leverage the cloud to create a common risk registry across your organization and deploy an integrated risk management process to mitigate your top risks and foster risk intelligence.
Engage business process owner through periodic surveys, assessments, and status dashboards. Apply analytic models to evaluate risks for appropriate actions. Ensure issue closure and maintain readiness with dashboards and risk heat maps.
Establish Risk Library
Engage business process owners to identify material risks. Establish an organization-wide risk registry to store information and facilitate data gathering.
Analyze Risks
Calculate inherent risk using likelihood, severity of impact, and analysis using both quantitative and qualitative models.
Evaluate Risks
Evaluate risks using context and significance models to determine an action: accept, monitor, or treat.
Execute Risk Assessments
Ensure readiness by scheduling periodic review of risk analyses and evaluations by subject matter experts.
Implement Controls and Treatments
Define treatment plans to neutralize residual risks. Ensure closure of related issues with status dashboard and automatic notifications.
Mobile. Analytics. Social.Manage and Report
Foster a risk-intelligent culture by keeping process owners and executives informed using real-time risk dashboards and heat maps.