The risk assessment lies at the core of risk management. Without a clear understanding of the risks faced, none of the other risk management activities can be undertaken. This is a four step process that breaks your risk assessment into manageable segments.
Risk and risk discussions are often hampered by inconsistent terminology and a high degree of subjectivity. To overcome this, we need to understand what we mean when we ask 'what is risk?'. This article lays out a concept for risk using the ISO definition - the effect of uncertainty on objectives. It breaks individual risks into … Continue reading What is Risk?