Risk assessment enables an organisation to
- find or recognise risks;
- understand risks and judge their significance;
- appreciate whether each risk should be accepted or modified through risk treatment; and
- consider the relative modifying effect of different risk treatment options.
It should occur occur whenever
- someone in an organisation makes a decision;
- there have been material changes in the internal or external environment; or
- there is a need to develop cost effective monitoring and assurance arrangements.
In all cases, risk assessment should be preceded by a process to ‘establish the context’ that allows the risk assessment approach to be tailored to the decisions being made and the organisation’s risk criteria. This step also enables the risk assessment to be structured properly to ensure it is comprehensive and suitably rigorous.
A skilled and independent facilitator from Broadleaf can obtain the optimal outcomes where you need support for the most critical decisions in sensitive or complex situations.