Risk Identification and Risk Mapping
As mentioned before, successful risk management calls for a structured approach. In this chapter, we focus on the third step of our recommended approach, which is twofold: risk identification and risk assessment.
Step 3: Identify and Assess the Risks Risk Identification
The purpose of risk identification is to detect potential risk events as early as possible, thereby reducing or eliminating surprises. With routine risk identification, managers can develop a good sense of possible sources of problems that will affect their organization’s strategy and operations. We suggest identifying risks on an ...
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