Risk Assessment and Risk Tolerance in Strengthening the Effectiveness of Organizational Risk Management: A Systematic Literature Review
DOI:
https://doi.org/10.58857/JFAE.2026.v03.i01.p02Keywords:
Risk Assessment, Risk Tolerance, Organizational Risk Management, Systematic Literature ReviewAbstract
This study aims to systematically examine the risk assessment process and the determination of risk tolerance levels in the context of organizational risk management. The method used is a Systematic Literature Review (SLR), which involves analyzing various scientific publications released between 2015 and 2025, obtained from databases such as Scopus, Web of Science, and Google Scholar. The findings reveal that risk assessment plays a crucial role in identifying, analyzing, and evaluating potential threats to the achievement of organizational objectives. Meanwhile, risk tolerance serves as the threshold for risk acceptance, enabling organizations to balance risks and opportunities in strategic decision-making. Factors such as organizational culture, resource capacity, and external conditions were found to influence the level of risk tolerance applied. The literature synthesis indicates that alignment between risk tolerance and risk appetite can enhance the effectiveness of risk management and strengthen an organization’s competitiveness and sustainability. This study provides a theoretical contribution to understanding the relationship between risk assessment and risk tolerance, as well as serving as a practical guide for organizations in developing adaptive and measurable risk management systems.
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