|
|
Article: Methods & elements of a solid risk management strategy.(Details)
- Article from:
- Risk Management
- Article date:
- July 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Risk Management Society Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Establishing a risk management strategy is not easy. The process demands companywide collaboration, goal alignment, evaluation of identified exposures, development of a plan to deal with those exposures and a commitment to continual improvement. Before developing a new risk management strategy, or re-evaluating an existing one, consider the following advice from several risk experts willing to share their philosophies.
Intimacy of operations, goals and missions. Developing an effective risk management strategy first requires intimate company knowledge, according to Lucille Gallagher, a Denver-based risk management consultant with more than 30 years in the field. ...