Risk assessment project
Summarize
Summary of Risk assessment project
A Risk assessment project in ServiceNow enables assessors to evaluate multiple risks and controls simultaneously within a unified workspace using Risk Workspace. This structured process supports workshop-based Risk and Control Self-Assessment (RCSA) environments by streamlining data collection, facilitating stakeholder collaboration, and automating reporting. It replaces manual, fragmented workflows to improve coordination, speed, and data accuracy.
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Note: Multi-risk and control assessments are supported only in Risk Workspace.
Key Features
- Simultaneous assessment of multiple risks and controls, reducing manual effort and saving time.
- Automated error handling and comprehensive error summaries to minimize mistakes and inconsistencies before finalizing assessments.
- Collaborative involvement of all relevant stakeholders within the project, reducing unnecessary back-and-forth communications.
- Easy navigation across different assessment stages and access to multiple risks and controls without switching views.
- Generation of detailed summary reports on assessment outcomes.
- Streamlined process for signing off all risks collectively within the project.
- Sidebar panel access for reference information related to each risk during assessment.
Personas and Roles
- Project Owner: Creates and manages the project, defines scope, identifies stakeholders, and sets project context.
- Assessor: Performs risk and control assessments, evaluates control effectiveness, and develops risk response strategies.
- Approver: Reviews completed assessments and provides final approval or rejection.
Roles required include:
- Risk assessment project reader: Read-only access to projects.
- Risk assessment project user: Can create and update own projects.
- Risk assessment project manager: Full create, update, and delete permissions on all projects.
Workflow
- Create a risk assessment project: Define project parameters such as assessable entity, Risk Assessment Methodology (RAM), name, description, and add stakeholders.
- Perform assessments: Conduct risk assessments in either stacked or grid view within Risk Workspace, evaluating inherent, residual, and target risks, control effectiveness, and defining risk responses.
- Reassess projects: Update completed assessments to reflect new information or changing conditions, ensuring ongoing alignment with organizational goals.
- Reassign assessors: Change assessors for multiple in-progress projects simultaneously to maintain continuity during personnel transitions.
You can perform assessments on multiple risks and controls simultaneously by creating a risk assessment project. Risk assessment project enables assessors to review multiple risks and controls 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 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.