Spring World 2018

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Spring Journal

Volume 31, Issue 1

Full Contents Now Available!

Tuesday, 02 January 2018 20:20

You Have a Risk Department, Why Do YOU Conduct Risk Assessments?

If you’re new to Business Continuity, you have a lot to learn.  A thorough understanding of Risk – and how to assess Risk – need not be on your To Do list.

As a BCM professional, you already know how much time you spend on Risk Assessments.  Have you ever considered how little value a BCM-centric Risk Assessment provides?

Most large organizations have a Risk Management Departments.  They catalogue, monitor and manage risks.  If that’s already their fulltime job, why are you conducting Risk Assessments?  Even in a smaller company, is a BCM practitioner really most qualified to be conducting Risk Assessments?

Risk Management is more a science than a project.  Risk Managers spend their time focusing on risks. Most small businesses without dedicated Risk Management departments understand their organization’s risks – even if they don’t act on them.  Those who set a business’ strategic direction consider risk in those plans (regardless of whether they do so consciously).