AI Risk Management Framework Documentation

This question asks whether your company has written down clear plans and procedures for handling the potential problems that AI systems might cause. Think of it like having a fire safety plan, but for AI - you need documented steps for identifying what could go wrong with AI, how to prevent issues, and what to do if problems occur. The AI Risk Management Framework (RMF) is a government-created guideline that helps companies systematically think through and address AI-related risks.

Having documented AI risk management processes is becoming a deal-breaker for enterprise contracts. Without these documents, you risk losing major sales opportunities as larger companies won't trust your AI capabilities. More critically, undocumented AI processes leave your company vulnerable to reputation-damaging incidents, regulatory penalties, and potential lawsuits if your AI makes harmful decisions. On the flip side, strong AI risk documentation builds customer confidence, speeds up sales cycles, and positions you as a mature, trustworthy vendor in an AI-skeptical market.

The biggest mistake companies make is creating generic, copy-paste AI policies that don't reflect their actual AI usage or risks. Many teams download templates online without customizing them to their specific AI features, making the documentation useless during audits. Another common error is focusing only on technical documentation while ignoring procedural elements - you need both the 'what' (technical safeguards) and the 'how' (human processes) to properly manage AI risks.