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Showing posts with label responding to risk. Show all posts
Showing posts with label responding to risk. Show all posts
Wednesday 2 December 2015

Risk Management

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Risk refers to the likelihood that your assets will decrease in value. Risk is unique in that it applies to the probability of losses occ...
Monday 23 November 2009

Responding to risks: Summary

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There are several possible responses to risk, ranging from tolerating to eliminating. The right response to risk depends on the specific s...
Sunday 22 November 2009

Responding to risks: Insuring risks

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Insuring risks is similar to transferring them, but rather than asking another company to tkae action if a risk occurs, you ask them to fina...

Responding to risks: Transferring risks

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Transferring is the concept of placing risks with those outside the business who are best placed to manage them.   Typically, this means ...

Responding to risks: Hedging risks

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Hedging means taking additional risks that offset other risks , so that if the downside impact of one risk occurs, it is (in theory) balan...

Responding to risks: Concentrating risks

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Concentrating risks is the opposite of diversifying - it means deliberately 'putting all your eggs in one basket'.  The effect is op...

Responding to risks: Diversifying risks

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Diversifying is about 'spreading risk around' - reducing your potential exposure by not having all eggs in one basket.  It reduces ...

Responding to risks: Minimising risks

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If you choose to minimise a risk, you accept that it can't be eliminated, but take action to reduce its probability or negative impact (...

Responding to risks: Tolerating risks

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Your assessment of probability and/or impact may lead you to the conclusion that is is acceptable to tolerate a risk.   Such a decision is ...

Responding to risks: Eliminating risks

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Clearly, if a risk has potentially negative consequences, then eliminating it is the best alternative. Given the choice, we would like to l...

Responding to risks

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Responding to risks - the actions you can take once you've identified a risk and understood its probability and impact. There are usua...