Risk Assessment And Management Flagstaff AZ

The Risk is the part of every business. There is always a chance that something will happen that will change the development of plan. Since the Risk is inevitable companion of the business, it is necessary to manage Risks, in order to prevent negative occurrences and to alleviate consequences, if they appear.

Bridgestone Engineering
(602) 272-5566
3151 W Thomas Rd
Phoenix, AZ

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ESC Software
(866) 248-3241
1620 W. Fountainhead Parkway
Tempe, AZ
 
Renewal Ranch
(623) 362-3876
8605 W. Northern Ave
Phoenix, AZ
 
PipeAlign, LLC
(480) 471-2097
28915 North 160th Street
Scottsdale, AZ
 
Andes Business Consulting
(602) 288-9109
20325 N 51st Ave,
Glendale, AZ
 
Azcomp Technologies Inc
(480) 730-3055
425 W Guadalupe Rd Ste 103
Gilbert, AZ

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Williams Investments
(602) 997-1088
11435 N Cave Creek Rd Ste 204
Phoenix, AZ

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Paychex
(602) 430-5038
16404 N. Black Canyon Hwy
Phoenix, AZ
 
System Concepts Inc
(480) 951-8011
15900 N 78th St
Scottsdale, AZ

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East-Gate Itc
(623) 298-5078
245 N Litchfield Rd
Goodyear, AZ

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Risk Assessment And Management

Entrepreneurship is defined as set of different activities that consist the business development. These activities are starting with idea, project development, evaluation, investment, development, start up, expansion, harvesting, re evaluation and cycle improvement. All these activities are important for sustainable development of the business.

But during this step by step business process, there are many situations where the whole process can be jeopardized by incidents that may have more or less influence. The whole process is planned in the best manner. But regardless how perfect the execution plan is, there is a certain possibility that some occurrences will deviate plan from it s path until a certain extent. The possibility of incident occurrences that will deviate execution of the plan is defined as a Risk.

The Risk is the part of every business. There is always a chance that something will happen that will change the development of plan. Since the Risk is inevitable companion of the business, it is necessary to manage Risks, in order to prevent negative occurrences and to alleviate consequences, if they appear.

The measurement and management of the Risk is not tangible as other business indicators, therefore it cannot be calculated precisely. In order to expect the unexpected, it is necessary to use subjective judgment in conjunction with structured analytical tools. During the Risk analysis three main area are in the scope of the Risk Analysis Tool:




These three factors of Risk analysis are rated from 1 10. The Total Risk assessment is expressed as a multiplication score of Risk factors:

Risk = Occurrence x Impact x Detection

This is the analytical tool for a Risk assessment. This tool should be used systematically in a Risk assessment process. But how should we expect the unexpected in a relevant manner?

The recommended flow of Risk assessment process is:

1.) Start Risk assessment process before Business Planning.

2.) Organize workshop with mid and top level managers of different functions.

3.) Train participants about structure of the Risk universe. Brainstorm possible Risks of the business. Write down all potential risks.

4.) Rate all risks according the Risk Analysis Tool. Every participant of the workshop should vote from 1 10 for Occurrence, Impact and Detectability for every identified Risk.

5.) After compiling of all data create Risk Analysis Report. Based on this report, prepare plan of preventive and corrective measures, according the importance ranking of every risk.

6.) Start next Risk assessment workshop with re evaluation last Risk Analysis Report.

This approach is giving you the chance to anticipate potential Risks and to be prepared for the situation of incident occurrence. It is true that Risk analysis is still the game of expecting of unexpected, but with this model you will be better prepared and less vulnerable for the potential incidence occurrences.

Laurus Nobilis has 11 years of experience in FMCG business. In 2007 he has started the http://www.biz-development.com web site dedicated to development of managerial skills. He also runs http://www.my-introspective.com a Personal Exploration and Development Guide.



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