What is “Risk”?
Risk is the conjoining of (i) an event that is not desired, and (ii) uncertainty.
This comports with common English usage and everyday common sense.
We help organizations
- identify, assess and prioritize risks, which begins with (i) identifying risks and (ii) assessing the probabilities of their occurrence and the magnitude of their impacts. In connection with the assessment of risk, a third concept, “velocity of risk”, has emerged and is beginning to be used by thinkers and practitioners in the field.
- make plans to eliminate or mitigate them, and
- implement those plans.
Perhaps most valuable of all, we can help a company create an entire structure and system for risk management, beginning at the board level and extending throughout the company.
We also help organizations
- respond to incidents, and
- report on such matters to those persons or entities to whom such reports are due.