A risk profile is a collection of risks. Risk profiles are managed in System Properties.
The default risk profile for a test plan or test case is what you see originally in the Risk Assessment section for that artifact or asset type. One predefined risk profile is included for test plans, another for test cases, and another for requirements. Administrators can modify the supplied risk profiles and also create profiles.
Each risk in a profile includes a default risk assessment and a default importance value. The risk assessment includes both the risk likelihood and the risk impact.
To manage risk profiles: