---
title: Risk Management
description: Use the Governance, Risk, and Compliance: Risk Management application to continuously monitor to identify high-impact risks, improve your risk-based decision-making, and reduce reaction time effectively. The application also provides structured workflows for the management of risk assessments, risk indicators, and risk issues.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/governance-risk-compliance/grc-risk-management-workspace/grc-risk-overview.html
release: australia
product: GRC: Risk Management Workspace
classification: grc-risk-management-workspace
topic_type: concept
last_updated: "2026-03-12"
reading_time_minutes: 2
breadcrumb: [Governance, Risk, and Compliance]
---

# Risk Management

Use the Governance, Risk, and Compliance: Risk Management application to continuously monitor to identify high-impact risks, improve your risk-based decision-making, and reduce reaction time effectively. The application also provides structured workflows for the management of risk assessments, risk indicators, and risk issues.

## Risk Workspace

Starting with version 13.0.5, the Risk Workspace has been added for Risk Management users. The Risk Workspace offers a simplified user experience for you to perform your daily tasks and activities. For more information on the new workspace, see [GRC Risk Workspace](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/risk-workspace.md).

## Benefits of Risk Management

The benefits of Risk Management are:

-   Faster risk-based decision-making: Prioritize activities based on automated risk scores to work on the most critical risks first.
-   Increased performance: Risk management embedded in automated cross-functional activities eliminates work interruption.
-   Effectively communicate risk: Real-time insights and role-based dashboards make reporting at all levels easier and faster.
-   Stay on top of risks: Mobile interfaces provide the information you need to do your job anytime and anywhere.

<table id="table_iwv_lpv_klb" class="nav-card"><tbody><tr><td>

[Explore](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/c_RiskManagementProcess.md) \[Omitted image "icon-explore.png"\] Alt text: Exploring risk management Learn about how risk managers, risk users, and risk administrators use the Risk Management application.

</td><td>

[Configuring Risk Management](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/configure-risk-mgmt.md) \[Omitted image "icon-set-up.png"\] Alt text: Configuring risk management Configure your Risk Management application.

</td><td>

[Integrate Risk Management](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/integrating-ara-with-other-apps.md) \[Omitted image "icon-integration.png"\] Alt text: Integrating risk management Extend Risk Management capabilities by integrating with other applications.

</td></tr><tr><td>

[Using Risk Management](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/using-risk-mgmt.md) \[Omitted image "icon-workspace.png"\] Alt text: Using Risk Management Work on risk assessments, risk events, and so on.

</td><td>

[Analytics and reporting solutions for Risk Management](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/grc-risk-mgmt-content-pack.md) \[Omitted image "icon-report.png"\] Alt text: Using risk dashboards Highlight the critical risks with dashboards and reports.

</td><td>

[Risk Management reference](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/risk-management-reference.md) \[Omitted image "icon-reference.png"\] Alt text: Additional reference information Get details about components like fields, tables, and properties.

</td></tr></tbody>
</table>**Note:** Depending on your license, you will have access to certain application features, generative AI skills, agentic workflows, and AI agents. For more information, see [ServiceNow product tiers](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/intelligent-experiences/ai-native-sku-overview.md).

## Implement Risk Management

Use the [Risk Management implementation](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/risk-impl-overview.md) to quickly implement the GRC Risk Management and Advanced Risk applications.

## Additional resources

-   [Ask or answer questions in the GRC community](https://community.servicenow.com/community/business-management/grc)
-   [Search the Known Error Portal for known error articles](https://support.servicenow.com/kb?id=kb_article_view&sysparm_article=KB0597477)
-   [Contact Customer Service and Support](https://support.servicenow.com/now?draw=case)
-   [Developer training](https://developer.servicenow.com/app.do#!/training/landing)
-   [Developer documentation](https://developer.servicenow.com/app.do#!/documentation)