Risk planning: How to plan for risk management
Without sufficient preparation, the introduction of a risk management system is bound to fail. Here are four steps to follow.
As a general rule, the introduction of a risk management system entails four steps:
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The risk management process
The main risks from the "Risk identification and assessment" phase must be analyzed in detail.
Implementation: Principles to adopt to reduce risk
Now that the essential principles and directives have been drawn up, the concept of risk management needs to be elaborated upon.
Risk identification and analysis
During the risk identification phase, all possible risks are listed as scenarios. Risks are identified, analyzed and then categorized according to priority.
Planning and defining a system
The planning phase enables a company to get a general overview of its current and future risk management situation.