Learn more about problemsolving with this collection
How to practice effectively
The importance of consistency
How to immerse yourself in the language
Risk identification techniques
One method is to ask the people with knowledge about the functioning of the organization, what could go wrong. It can be done using brainstorming, questionnaires, self-reporting etc.
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Risk terminology
- Threat – the source of the risk event that causes uncertainty.
- Risk exposures – the amount that theoretically is at risk if the threat becomes a reality.
- Risk – the collection of threats/causes and exposures that are treated ...
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When identifying risk
Identifying as many risks as possible often leads to not being able to manage it all properly.
- First, identify the risks with the largest potential loss or financial impact. Then collect smaller risks together that can be managed as a group. Smaller risks have minor financial co...
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Definition of a risk
A risk can be defined as an effect of uncertainty on the objective. It is a different outcome from what you expected and can address, create or result in opportunities and threats.
- Risk is not an expected adverse development. If you expect the outcome, it is not a risk.
- ...
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Risk register
Before you start risk management, it is important to identify the risks the company is exposed to.
Establish a catalogue of risks or a"risk register"
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