How to identify risks? - SilverBulletRisk
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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"
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.
Identifying as many risks as possible often leads to not being able to manage it all properly.
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Risk should preferably be viewed as an experiment. This helps with testing innovation and reducing risk if things don't turn out as intended.
When you take the time to consider the downside possibilities, it will be less frightening if they happen. This will give you the confidence to stay the course.
If you have only considered one possibility, you should probably worry about it.
Find many possibilities for success, then you can be positive that at least some of them might work out.
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