All organizations face a host of risks incurred during the conduct of day-to-day business operations and stakeholder interactions. These risks challenge executives and managers in so far as they can have consequentially negative impacts on the organization’s ongoing sustainability from an operational, financial, reputational, and regulatory perspective.

StrategyDriven Risk Management ArticleOrganization leaders seek to manager their risks’ likelihood and/or impact; identifying, assessing, and prioritizing followed by monitoring, mitigating (accepting, avoiding, minimizing, or transferring), and controlling each risk. Effective risk management optimizes the cost of risk monitoring and mitigation with the expense incurred should the event occur.

Risk = Probability of an adverse event’s occurrence times the severity of the event’s impact should it occur

Focus of the Risk Management Forum

Materials within the risk management forum focus on those principles, best practices, and warning flags associated with the effective monitoring, mitigation, and response to both identified and unidentified – Black Swan – risks.

For detailed insight on making and managing high-risk decisions, visit StrategyDriven‘s Decision-Making Forum.

The StrategyDriven Team

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