Application for Risk Management is a solution for managing risks. It allows uncertainty to be addressed by identifying and generating metrics , parameterizing , prioritizing , developing responses , and tracking risks. The risk management solution is designed to help organization to manage risks based on global standards / requirements such as ISO 31000 or ISO 27005.
Risk assessment consists of the risk identification , risk analysis , and risk evaluation. Risk assessment considers the consequences of the risk and the probability that such consequences will occur. The risk assessment is useful for the organizations which are interested to continually identify , assess and reduce IT-related risks within levels of tolerance set by enterprise management.