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COMPEL Body of Knowledge

COMPEL Glossary / GL-29

Risk Assessment Report

A structured, evidence-based evaluation of the risks associated with each AI system or use case — covering technical, operational, ethical, regulatory, and reputational risk dimensions — with scored likelihood and impact ratings, existing control effectiveness ratings, and residual risk determinations.

What this means in practice

It provides the risk foundation that justifies governance control design decisions.

Context in the COMPEL framework

Produced in the Model stage based on system classification. The Risk Assessment Report is reviewed at the Model stage gate and updated at each subsequent gate review as new evidence emerges.

Where you see this

Risk Assessment Report is most commonly referenced when teams work across the Model , Evaluate and Learn stages — especially within the Operational Readiness layer . It appears in governance artifacts, assessment instruments, and delivery playbooks wherever COMPEL is operationalized.

Related COMPEL stages

Related domains

Synonyms

AI risk report , system risk assessment , risk and impact assessment

Related Terms Network

This diagram shows how Risk Assessment Report connects to other concepts in the COMPEL body of knowledge. Each linked node is a term you can explore in turn.

Related terms for Risk Assessment Report Network graph showing 3 related glossary terms connected to Risk Assessment Report. Risk Assessmen… Risk Appet… AI System … Control Re…
3 related concepts connected to Risk Assessment Report.
Accessible list of related terms
  • Risk Appetite Statement — A formally approved document that defines the types and levels of AI-related risk the organization is willing to accept in pursuit of its AI ambition, covering operational, reputational, regulatory, and ethical risk dimensions.
  • AI System Classification Register — A formal register that classifies every AI system in scope according to risk tier, autonomy level, data sensitivity, regulatory applicability, and criticality — producing a system-level risk profile that determines which governance controls, review processes, and compliance requirements apply.
  • Control Requirements Matrix — A comprehensive mapping of every governance control required for each AI system — specifying the control type (preventive, detective, corrective), the risk or policy it addresses, the evidence required to prove effectiveness, the owner, and the testing frequency.

See also

  • Risk Appetite Statement — A formally approved document that defines the types and levels of AI-related risk the organization is willing to accept in pursuit of its AI ambition, covering operational, reputational, regulatory, and ethical risk dimensions.
  • AI System Classification Register — A formal register that classifies every AI system in scope according to risk tier, autonomy level, data sensitivity, regulatory applicability, and criticality — producing a system-level risk profile that determines which governance controls, review processes, and compliance requirements apply.
  • Control Requirements Matrix — A comprehensive mapping of every governance control required for each AI system — specifying the control type (preventive, detective, corrective), the risk or policy it addresses, the evidence required to prove effectiveness, the owner, and the testing frequency.

Related Terms

Other glossary terms mentioned in this entry's definition and context.