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Volume 29, Issue 4

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Tuesday, 23 July 2013 16:04

Risk Management: Everyone’s ounce of prevention

"Well, it will never happen!" is an underlying rationale when nonprofits fail to engage in risk management practices.

When "it" does happen, leadership's first question often is "Can we (translated: ‘me') be sued?"

At this point their question is neither timely nor relevant. The relevant question is whether the party harmed can recover from the nonprofit. The answer often confirms the "ounce of prevention" principle. To prevent harm and to minimize its impact requires an effective risk management strategy.