> ## Documentation Index
> Fetch the complete documentation index at: https://docs.aigoframework.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Risks

> Record and manage AI system risks in AIGO Framework Studio.

# Risks

Use the **Risks** workspace to identify, assess, treat, accept, and manage risks associated with an AI system.

## When to use it

Use this workspace when you need to:

* record an identified AI governance risk;
* document the basis of a risk assessment;
* record inherent likelihood and impact;
* define a risk treatment decision;
* record formal risk acceptance where required;
* review previously recorded risks;
* update or retire a risk record.

## What to enter

### Risk definition

Record:

* **Risk title** — a concise name for the risk.
* **Risk status** — the current lifecycle status of the risk.
* **Risk statement** — describe the risk event and potential impact.
* **Risk owner** — identify the applicable governance responsibility.
* **Risk category** — classify the type or category of risk.
* **Consequences** — record potential consequences.
* **Potential harms** — record potential harms associated with the risk.

### Risk assessment

Record:

* **Assessment ID** — identifier for the assessment.
* **Assessment date** — date of the assessment.
* **Assessment type** — for example initial, periodic, triggered, post-incident, post-change, reassessment, or retirement.
* **Assessment result** — record the assessment outcome.

### Inherent risk rating

Record:

* **Likelihood** and **likelihood level**.
* **Impact** and **impact level**.
* **Risk level**.
* The workspace calculates the recorded score from likelihood and impact.

The rating should be supported by the organization's defined risk assessment method.

### Risk treatment

Record:

* **Treatment decision** — such as avoid, reduce, mitigate, transfer, restrict, accept, suspend, or retire.
* **Treatment status**.
* **Treatment objective**.
* **Treatment rationale**.

The treatment record should explain how the organization intends to manage the identified risk.

### Risk acceptance

Use **Formal risk acceptance required** when the risk requires an explicit acceptance decision.

Where applicable, record:

* **Acceptance ID**.
* **Acceptance status**.
* **Acceptance authority**.
* **Effective date**.
* **Expiry date**.
* **Acceptance rationale**.

Risk acceptance should be made by an appropriately authorized person or role according to the organization's governance arrangements.

## What the result means

A saved risk becomes a governance record associated with the AI system.

The record provides traceability between:

**risk → assessment → rating → treatment → acceptance**

The record does not by itself establish legal compliance, certification, accreditation, or conformity assessment.

## Reviewing existing risks

The **Risk History** section lists previously recorded risks for the AI system.

For each record you can:

* **View Details** to inspect the complete governance record;
* **Edit Details** to update the record;
* delete a record when appropriate under your organization's record-management rules.

## What comes next

Risk records can inform:

* control selection and assessment;
* risk treatment activities;
* formal risk acceptance;
* governance review and approval;
* monitoring;
* reassessment after changes, incidents, or other triggers.

## Framework reference

For the governance model behind this workspace, see the AIGO Framework guidance on **AI Risk Management** and the corresponding risk-management procedures and schemas.


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.