The framework needs to address all of the assets at risk in the organization. Land, buildings and equipment. Reputation, brand and information. Finally, the framework needs to include the element of time. The consequences of some risk events vary with their duration.
Some processes are sensitive to delay.
Subtle risks, such as obsolescence and opportunity costs, also should be included in the framework. The following diagram serves as a visual framework to encompass all business risk and to organize our thinking about those risks. The framework is composed of three major domains of business risk and a number of risk groups within each domain. Some risk groups are shared between domains. The risks associated with putting assets to work to achieve objectives.