Risk Assessment And Management Watertown NY

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.

Hasenfeld & Klein
(646) 436-3320
1525 55 street
Brooklyn, NY
 
Jerry LoJacono
(716) 741-9039
6499 Poplar Ct.
East Amherst, NY
 
268 East Fourth Street Hbfnc
(212) 505-0853
268 E 4TH St
New York, NY

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National Consulting Llc
(718) 247-1000
4141 38TH St
Long Island City, NY

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David Steck, PH.D., MBA
(347) 922-7039
1620 East 2 Street 2A
Brooklyn, NY
 
Rialto Management Co Inc
(718) 497-7164
5452 Myrtle Ave
Flushing, NY

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Marra & Associates, LLC
(716) 609-0363
13 Kate Land Ct.
Getzville, NY
 
Avenue M Management Corp
(718) 627-1148
1500 McDonald Ave
Brooklyn, NY

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Art Brown Consulting
(917) 916-3229
167 Carroll St
Brooklyn, NY

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Flatiron Consulting Inc
(212) 627-4806
130 W 24TH St
New York, NY

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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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