Back to the Risk Management Process, Risk Identification.

In previous posts I reviewed the risk management process as a part of the total Enterprise Risk Management program of a business. To identify potential risks in each segment of your business you should use a checklist or flowchart. There are many websites and resources out there specific to your business to obtain these tools. The use of a checklist will give you questions and references you need to ask yourself each time you identify risk. Also a checklist gives you years of expertise and knowledge developed by others in your business. Finally, everytime you are in the process of identification of risk, the checklist will give you peace of mind that you are not forgetting anything. Until next time be careful out there and know your risks!   K
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