What type of risk assessment is used to guide organizations over a 5 to 10 year period?

The type of risk assessment that guides organizations over a 5 to 10 year period is strategic risk assessment. This approach focuses on long-term objectives and goals, helping organizations identify and evaluate potential risks that could impact their ability to achieve these strategic outcomes.

Strategic risk assessments take into account various factors, such as market conditions, regulatory changes, competition, and technological advancements that may influence the organization's direction over an extended period. By assessing these risks, organizations can devise strategies to mitigate potential threats and seize opportunities, ensuring their sustained growth and success.

This long-term perspective is vital as it aligns risk management with the overall vision and mission of the organization, enabling informed decision-making and resource allocation that supports future initiatives.