A Structured Approach to Risk Management
There is no one-size-fits-all control system for organizations. There are only control systems that best match organizational needs. Risk management, therefore, requires decision makers, usually managers, to intimately understand their organization and the factors that influence control system design. This is a complex and challenging task; thus, we put forth a step-by-step process to provide a structured approach to risk management. Unstructured attempts to manage risk can easily become overwhelming, causing decision makers to reach faulty conclusions that make the achievement of strategic objectives less likely rather than more.
Our recommended approach is logically structured, empirically ...
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