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Risk Profile

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PPGPortal > Home > Concept Dictionary > R > Risk Profile
 

Risk Profile 

The documented and prioritized overall assessment of the range of specific risks faced by an organization.

(HM Treasury. "The Orange Book: Management of Risk - Principles and Concepts." 2004, p. 49.)

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The act of creating a risk profile is called "risk profiling." KPMG Enterprise Risk Management defines risk profiling as: "the systematic identification, assessment and prioritization of risks, in process that occurs on a continuous basis to ensure that the organizational understanding of risk is up-to-date."

Government departments in Canada are encouraged to undertake risk profiling by the Treasury Board or equivalent body in the government.

 

     

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