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Risk Management Made Easy

Risk Management Made Easy

About the author

An acknowledged expert in the field of risk management and contingency planning, Andy Osborne has spent over twenty years helping businesses of all sizes, across a broad range of industry sectors, to understand and manage their risks effectively. He is a firm believer that the role of a consultant or adviser is to simplify apparently complex processes and present them in a way that is easy to understand, not the other way around.

About the book

Risk is unavoidable. Like the proverbial death and taxes, it’s one of the few things in life that’s inevitable. All businesses, whatever their size and shape, whatever markets they operate in and whatever products or services they provide, are constantly faced with a multitude of risks, large and small. Indeed, businesses can only prosper by successful risk taking.

In our own businesses we need to strike the correct balance between risk and potential reward; to maximise our upside risk and minimise our downside risk. To succeed we need to manage risk appropriately, not to try to eliminate or avoid it, as, in any case, that simply isn’t possible. It’s therefore essential that we understand the major risks to our business operations to enable us to manage them to our advantage.

Some risks are so minor as to be insignificant, whereas others have the potential to seriously affect our business’s continued well-being. So it’s important to understand the likelihood and the potential consequences of our own particular risks, and to take sensible, cost-effective mitigation measures for the more significant ones.

here are many benefits to managing our risks effectively, including :

• Informed decision making
• A more resilient business
• Increased likelihood of successful risk taking (capitalising on opportunities)
• Protection of revenue, profits or market share
• Protection of reputation/goodwill
• Improved product or service quality and reliability
• Protection of valuable assets
• Increased likelihood of achieving strategic goals or objectives
• Reduced costs and/or increased profits
• Less failures and downtime
• Competitive advantage
• Fewer nasty surprises

Read book online on Google Docs Risk Management Made Easy

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