---
title: Risk appetite setup
description: You can configure the risk appetite feature in the Advanced Risk application.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/governance-risk-compliance/grc-risk-management-workspace/risk-appetite-setup.html
release: australia
product: GRC: Risk Management Workspace
classification: grc-risk-management-workspace
topic_type: concept
last_updated: "2026-03-12"
reading_time_minutes: 1
breadcrumb: [Configure, Risk Management, Governance, Risk, and Compliance]
---

# Risk appetite setup

You can configure the risk appetite feature in the Advanced Risk application.

Follow the order of the tasks to configure the risk appetite feature in the Advanced Risk application.

-   **[Configure a risk appetite and tolerance in Advanced Risk](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/configure-risk-appetite.md)**  
Set up the advanced risk assessment properties so that you can configure and customize the risk appetite and tolerance in the Advanced Risk application.
-   **[Set up a risk appetite scale](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/set-up-risk-appetite-scale.md)**  
Set up a risk appetite scale in the Advanced Risk application to define the qualitative risk appetite within your organization.
-   **[Change a risk appetite status](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/change-risk-appetite-status.md)**  
Change the default name, color, and icon that appear for the risk appetite status in the Advanced Risk application.

**Parent Topic:**[Configuring Risk Management](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/governance-risk-compliance/grc-risk-management-workspace/configure-risk-mgmt.md)