---
sourceDocument: Australia Governance, Risk, and Compliance
sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/governance-risk-compliance

 Release :

    - australia

ft:locale :

    - en-US

ft:publication_title :

    - Australia Governance, Risk, and Compliance

ft:clusterId :

    - grc

bundleId :

    - grc

workflow :

    - Technology


---

# Use

# Using Risk Management {#ariaid-title1}

* Release version: Australia
* 
* Updated March 12, 2026
* 
* ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read

You can use the features and capabilities of the Risk Management application
perform various activities such as creating issues, reporting risk events, performing risk
assessments and so on.
* **[Mobile experience for GRC Risk Management](https://servicenow-prod.fluidtopics.net/17ZfVLfuq6ykRKdo9ypDWw)**   
  As a risk manager, use your Android or iOS mobile device to manage your work.
* **[Use Risk Events](https://servicenow-prod.fluidtopics.net/MnxfpFRhI6hSWtlRn7iiNQ)**   
  Report risk events and monitor their workflow to prevent losses in your organization.
* **[Perform Advanced Risk Assessment](https://servicenow-prod.fluidtopics.net/wsg2bZ4g7xulNiAGGFxzNQ)**   
  Use the ServiceNow® Governance, Risk, and Compliance (GRC) Advanced Risk Assessment feature to create an integrated risk platform.
* **[Assess risks](https://servicenow-prod.fluidtopics.net/0pUQJGMCxL1EbhhdGZB2sQ)**   
  Use the classic risk assessment and assess the risks in your organization.
* **[Manage a business process](https://servicenow-prod.fluidtopics.net/gIeAbC9PuWl1ksddx9MgJQ)**   
  Create and manage business processes in your organization.
* **[Create a risk framework and associate risk statements to it](https://servicenow-prod.fluidtopics.net/gBRmDlPAxWhY79lMtluopg)**   
  Risk managers create risk frameworks to group risk statements into manageable categories.
* **[Define risk statement hierarchy](https://servicenow-prod.fluidtopics.net/3Rqy5j_6tuAWMmPDZzldeQ)**   
  Risk managers establish parent and child relationships on the risk statement form.
* **[Create a risk statement](https://servicenow-prod.fluidtopics.net/5c8tE5NLhN_oCKlzS1gpuQ)**   
  Risk managers create risk statements to group risks into manageable categories.
* **[Visualize risk hierarchies using the GRC: Workbench](https://servicenow-prod.fluidtopics.net/P5YR9lbs41_nHaS_bgujoA)**   
  Risk users can see the hierarchy of risk statements using the GRC: Workbench.
* **[Generate a risk from a risk framework](https://servicenow-prod.fluidtopics.net/d3x3pvQffS13RH8dYPTyIw)**   
  Making associations with risk frameworks automatically creates risks.
* **[Generate a risk from a risk statement](https://servicenow-prod.fluidtopics.net/Xrg7Zich29mD_9IIVuWdnA)**   
  Making associations with risk statements automatically creates risks.
* **[Relate risks to each other](https://servicenow-prod.fluidtopics.net/mDS~pI3ozZ7jCwcRkT~~8Q)**   
  Create relationships between risks to better understand how risks affect each other and how they affect the enterprise.
* **[Create a risk manually](https://servicenow-prod.fluidtopics.net/FAz8YO9KeAWWPC4t704JKg)**   
  Risk administrators can create risk records when they see a potential for a gain or loss of value.
* **[Follow a risk](https://servicenow-prod.fluidtopics.net/92DYa9WYAxKwAKju9mevLQ)**   
  Connect integrates with Risk Management providing an overlay to the standard interface, allowing users to participate in conversations while they work and collaborate on the risk record.
* **[Add a control to a risk](https://servicenow-prod.fluidtopics.net/SiFkk1Xers1GtATlhI3_LQ)**   
  Controls are added to the risks for the on-going review of processes.
* **[Manually create GRC issues](https://servicenow-prod.fluidtopics.net/4R0vZEVDdl96xdZoh9dlBw)**   
  As a GRC user, you can manually create issues to document policy, risk, or audit observations, or to accept any GRC problems. You can also identify the source of the issue to help analyze and classify the issues.
* **[Use entity and risk dependencies using the GRC: Workbench](https://servicenow-prod.fluidtopics.net/TqSoJL0BwqMy1ylRRGTTLg)**   
  The GRC: Workbench utilizes CMDB information to show the upstream and downstream relationships across all applications. CMDB information is one of the sources. These relationships enable consistent risk mapping and modeling across the enterprise.
* **[Monitor risks using GRC Performance Analytics Indicators](https://servicenow-prod.fluidtopics.net/tc2P5Dl3azPvyzStsY5KYg)**   
  You can link Risk Management risk statement and risks to Performance Analytics indicators, breakdowns and thresholds. You can associate Performance Analytics indicators with risk statements, and risks to view scorecards and trends and analyze current conditions and trends.
* **[Create a GRC indicator template](https://servicenow-prod.fluidtopics.net/lmuS1Cabu~Ql_ENyvcKRRg)**   
  Compliance or risk managers create indicator templates from which many indicators can be created.
* **[Create a risk indicator](https://servicenow-prod.fluidtopics.net/TyJQox4aEqxciVlYSf6FuQ)**   
  Create a risk indicator to identify the possibility of a future adverse impact on your organization. Indicators are an early warning system, and they enable you to take preventative action on the risks.
* **[View the Risk Overview](https://servicenow-prod.fluidtopics.net/qfksC9_i3n0Rl8drj3sO1w)**   
  The Risk Overview is contained in the Risk Management application and provides an executive view, allowing risk managers to quickly identify areas of concern by pinpointing entities with known high risk.