0800 118 5599
enquiries@riskspecialists.co.uk
Twitter
LinkedIn
ContinuancyContinuancy
  • Home
  • About
  • Services
    • Risk Management for Fine Art & Specie
    • Business Continuity Planning
  • Case Studies
  • Blog
  • Get In Touch

What is Risk Management?

Risk is part of all our lives.

Risk management is the process of identifying, assessing and controlling threats to a business’s capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters.

risk-management-collage-bcp

What is Business Continuity Planning?

BCP is a process that identifies potential impacts that threaten an organisation and provides a framework for building resilience and the capability for an effective response, which safeguards the interests of its key stakeholders, reputation, brand and value creating activities.

Book Free Session

Risk Management Strategies and Processes

All risk management plans follow the same steps that combine to make up the overall risk management process

Risk Identification. 

The company identifies and defines potential risks that may negatively influence a specific company process or project.

Risk Analysis. 

Once specific types of risk are identified, the company then determines the odds of it occurring, as well as its consequences. The goal of the analysis is to further understand each specific instance of risk, and how it could influence the company’s projects and objectives.

Risk Assessment and Evaluation. 

The risk is then further evaluated after determining the risk’s overall likelihood of occurrence combined with its overall consequence. The company can then make decisions on whether the risk is acceptable and whether the company is willing to take it on based on its risk appetite.

Risk Mitigation. 

During this step, companies assess their highest-ranked risks and develop a plan to alleviate them using specific risk controls. These plans include risk mitigation processes, risk prevention tactics and contingency plans in the event the risk comes to fruition.

Risk Monitoring. 

Part of the mitigation plan includes following up on both the risks and the overall plan to continuously monitor and track new and existing risks. The overall risk management process should also be reviewed and updated accordingly.

Ready to speak to a risk specialist?

We advise and help you solve the risks your business has before they happen.

Book my free session
_0001_irm_0001_irmproducts_0001_Layer 1products_0001_Layer 1_0002_buscont_0002_buscont_0000_menu03_0000_menu03worshipworship
Risk Specialists Logo Footer

Home
About
Services
Case Studies
Contact

Get In Touch

0800 118 5599
enquiries@riskspecialists.co.uk
© 2018 CKS Associates Trading as The Risk Specialists | Company Number 11069289 | Registered in England | Registered Address: Unit 1-2 Warrior Court, 11 Mumby Road, Gosport, Hampshire, PO12 1BS | Designed by Damteq®