Has your organization established and documented a formal process for identifying and incorporating opportunities into risk management discussions?

This question assesses whether your organization has a structured approach to identify potential opportunities alongside risks, such as through SWOT analysis or similar frameworks. Having a formal process ensures that positive outcomes and strategic advantages are considered alongside threats and vulnerabilities when making risk-based decisions. Evidence could include documented risk management procedures that specifically address opportunity identification, meeting minutes from risk committee discussions that show consideration of opportunities, or templates/tools used for risk-opportunity analysis such as SWOT worksheets, opportunity registers, or risk-opportunity matrices.