Risk action plan
Posted by Phill Forostenko in Dec, 2014
What is a Risk action plan? A risk action plan is the course of action which an organisation agrees upon to help them to address potential risks, reduce the likelihood of these risks occurring and to lessen the impact of these risks if they do occur. A plan is created to ensure that the right […]
Post Tagged with Risk treatment
Posted by SkillMaker in Dec, 2013
What is Risk treatment? Risk treatment is the name given to a wide range of strategies which are used to reduce, remove, avoid, transfer or otherwise alter the risk. Specific treatment strategies can be created to treat specific risks which have been identified. Treatment strategies may differ, depending on the risk context. What is Risk […]
Risk Stakeholders
Posted by SkillMaker in Dec, 2013
What are risk stakeholders? Risk stakeholders are the people who are (or perceive themselves to be) affected by a decision, treatment, strategy or process. A stakeholder can be an individual, an organisation or a grouping within an organisation, such as the management, who may change at any time during the process. Some risk stakeholders may […]
Risk monitoring
Posted by SkillMaker in Dec, 2013
What is Risk monitoring? Risk monitoring is the process which tracks and evaluates the levels of risk in an organisation. As well as monitoring the risk itself, the discipline tracks and evaluates the effectiveness of risk management strategies. The findings which are produced by risk monitoring processes can be used to help to create new […]
Risk management
Posted by Peter Baskerville in Dec, 2013
What is Risk management? Risk management is the process of identifying, evaluating and prioritising risks, then identifying and taking steps to minimise these risks. What is Risk management like? Risk Management is like the safety features in a car. When you are out driving, you will encounter bends in the road or other problems which […]
Risk management tools and techniques
Posted by SkillMaker in Dec, 2013
What are Risk management tools and techniques? Risk management tools and techniques are the things and ideas which are used to help to control risk in a company. They can help an organisation to identify, evaluate, reduce or remove risk, so that these risks will not have as much of a potential impact onto that […]
Risk management standards
Posted by Andrew M Cowan in Dec, 2013
What are Risk management standards? Risk Management Standards set out a specific set of strategic processes which start with the overall aspirations and objectives of an organisation, and intend to help to identify risks and promote the mitigation of risks through best practice. Standards are often designed and created by a number of agencies who […]
Risk identification
Posted by SkillMaker in Dec, 2013
What is Risk identification? Risk identification is the process of spotting, recognizing or classifying potential risks which may affect an organisation. Risk identification can help a company to be prepared if these risks occur. This is one of the early stages of the risk management process. What is Risk identification like? Risk identification is like […]
Risk context
Posted by SkillMaker in Dec, 2013
What is the Risk context? In order to develop a risk management strategy, an organisation must begin by establishing the risk context. The risk context should take into account both the internal and external set of circumstances or rules within which the organisation is operating. Creating a proper risk context can help an organisation to […]
Risk analysis
Posted by SkillMaker in Dec, 2013
What is Risk analysis? Risk analysis is the name given to a technique which is used to identify and assess any factors which may jeopardise the success of a business. The method also assesses the chances of a risk occurring and the likely outcome of the risk if it did indeed occur. This analysis should […]