2022 - 05 - Governance, Risk Management and Compliance - Risk Management Approaches

All organisations are exposed to risk, whether internal or external, expected or unexpected. It is important to understand those risks, the threat they present to the organisation and strategies to mitigate the risk.

This presentation presents some strategies for organisations looking to carry out this process. In doing so it identifies five approaches, specifically

• Accept
• Avoid
• Transfer
• Mitigate
• Exploit

These are reasonable approaches but they are certainly not exhaustive or exclusive and it is important to tailor your approach to the specific task.

in addition real life examples of risk presentation are explained.