Defining your approach to risk management is important and how you manage risk matters. This paper will help define your ever-evolving risk procedures so you can make the right moves needed to move forward.
- Risk Identification: Risk management starts with identifying risks.
- Assessment Process: Includes how to enter, review and approve a newly identified risk.
- Risk Response: Your response represents your organization’s process and philosophy for addressing the risks impacting its ability to meet its most critical objectives.
- Trending: Well-managed companies want to be able to show their management and executives how that risk is “doing.”
- Ownership: A risk without an owner is problematic, and if there is no owner for a risk, it likely isn’t being managed effectively.