Who’s in control?

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It may be no surprise that the benefits of managing risk within your organisation are wide ranging.  Risk management not only helps us to see the risks that may not be immediately apparent but assists us in drilling down to gain a deeper understanding of these risks.

Risk management supports strategic and operational activities by assessing and reducing the likelihood of potential negative impacts on the organisation.  It also assists in leveraging opportunities through a clearer understanding of any risks involved.  A well-managed process will improve communication of risks, protect stakeholders and assets and help to ensure compliance, prosperity and reputation.

As part of our everyday roles and responsibilities, we are either consciously or subconsciously identifying and evaluating risks.  Whether we are aware of it, risk is around us all the time, whether we are at home, shopping, commuting or working. Naturally most people will see risk as dangerous or something that is fraught with a great deal of uncertainty. For others, risk may be the silver-lining, an opportunity for growth or positive change. Risk can have a positive or negative effect.  The International Standards for Risk Management AS/ISO 31000 defines risk as:

the effect of uncertainty on objectives

A focus on such uncertainty can help to steer change that address threats and optimise opportunities.  Whilst threats need to be understood and controlled, the organisation should also be ready to take advantage of conditions that are appropriate for leveraging any opportunities.  At the end of the day, nobody can be 100% certain about the actual outcomes for any risk or opportunity being considered, therefore it is imperative to evaluate information and to make decisions based on good risk management practices.

If you’d like to learn more, the 1 day Manage Risk course is designed to assist anyone that has embarked in a career involving risk management, for those who are required to implement a risk management system or anyone who wishes to gain a better understanding of the subject.

Click here to learn more about training options and course dates.

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