The related set of risk policies and procedures designed to identify potential risks in the commercial cannabis business is known as what?

The correct answer refers to a risk program, which encompasses a comprehensive set of policies and procedures aimed at identifying, assessing, and managing potential risks within the commercial cannabis industry. This is particularly important in an industry with significant regulatory scrutiny and operational complexities, where the identification of potential risks can help mitigate financial, legal, and reputational harm.

A well-structured risk program not only outlines the processes for identifying risks but also incorporates strategies for monitoring and responding to those risks. This proactive approach is crucial for ensuring the sustainability and compliance of a cannabis business, thus allowing it to thrive in a highly regulated environment.

In contrast, while a compliance program focuses specifically on adhering to laws and regulations, and a governance structure deals with the decision-making framework and corporate management, these do not specifically target the broader array of risks that a risk program addresses. An operational framework relates more to the internal processes and systems within an organization, rather than the identification and management of risks.