The overview of this document is creation of risk in risk management with basics.
Hope it is helpful for others.
The prerequisites to create a risk we need to create required organization units and relevant risk categories
The organization units and Risk categories as created in master data work center
Risk can be created in Assessment work center.
Click on Risk and Opportunities
To assign role owner for risk in roles tab we need to maintain role assignment for entity in SPRO
SPRO>GRC>General Settings>Authorizations>Maintain entity role assignment
Now these role assignments will appear under roles tab of Risk
Now select the role and click on assign button to assign owners (we can assign single owners or multi owners also)
Now we can submit the risk
Once we click on Submit button then Risk status will be changed to active.