Risk management. How much attention do you give it? I remember after the Canberra Bushfires, there wasn’t one home that I visited shortly after that where the insurance policy wasn’t out on the table. Of course there is more to Risk Management than having an insurance policy but how often do we Assess, Evaluate, Manage and Measure risks in our businesses? The topic for this next period in my Diploma in Business (through Wisdom Learning) is Risk Management. The assignment involved completing a Risk Register and preparing a Risk Treatment Plan for our businesses. This will be a great exercise for my business because although we’ve identified risks on the fly and acted to minimise the impact, this formal process will no doubt identify gaps we hadn’t previously addressed.
Have you gone through a semi-formal process of identifying risks in your business? If so, how did you go about it? What templates did you use to assist with the process? Have you had an event that confirmed your treatment of that risk worked? Please share your experiences with me.
Here’s to volunteer treasurers..
