Risk assessment project in AI Risk and Compliance
You can perform assessments on multiple risks and controls simultaneously by creating a risk assessment project for an AI asset. This feature enables assessors to review multiple risks to understand their potential impact, likelihood, and associated mitigation strategies.
Overview of a risk assessment project
A Risk assessment project is a structured process designed to assess multiple AI asset risks and controls simultaneously, particularly within workshop-based RCSA (Risk and Control Self-Assessment) environments. It replaces manual data entry and fragmented workflows by enabling efficient data collection, collaborative input from stakeholders, and automated reporting. A Risk assessment project simplifies coordination, speeds up processes, and improves data accuracy by providing a unified workspace for evaluating risks collectively and reliably.
Benefits of a risk assessment project
- Simplifies the RCSA process by enabling multiple risks and controls to be assessed at the same time, which saves time on manual data collection.
- Reduces the chances of errors and inconsistencies by using automated error handling and providing comprehensive error summaries before finalizing assessments.
- Reduces unnecessary back-and-forth interactions among stakeholders by involving all required participants in the assessment project.
- Enables navigation between different stages of risk assessments and access multiple risks and controls simultaneously, without switching screens.
- Provides detailed summary reports on the assessment results.
- Simplifies the process of signing off on all the risks together within the project.
- Enables access to reference information related to each risk in the sidebar panel.
Personas involved
- Project owner
- The project Owner creates and manages the risk assessment project. It includes setting up the project context, identifying relevant stakeholders, and defining the scope of risks that must be assessed.
- Assessor
- The project assessor performs assessment on multiple risks and controls within the risk assessment project. They analyze each risk, evaluate the effectiveness of existing controls, and create risk response strategies.
- Approver
- The Project Approver reviews the completed risk assessments and provides the final sign-off on the project. They ensure that all scoped risks have been assessed and either approve or reject the risk assessment.
Roles required
- Risk assessment project reader [sn_risk_advanced.risk_asmt_project_reader]: Provides read-only access to the risk assessment projects.
- Risk assessment project user [sn_risk_advanced.risk_asmt_project_user]: Provides the ability to create risk assessment projects and update or delete only the projects created by the user.
- Risk assessment project manager [sn_risk_advanced.risk_asmt_project_manager]: Provides the ability to create, update, and delete any risk assessment projects.