Risk Management Plan
What are the hidden and real risks facing my business?
A Risk Management & Recovery Plan is an important part of your business, along with a Business Impact Analysis, which go together to form your Business Continuity Plan.
The process involves identifying risks, assessing risks and developing strategies to manage those risks. It is only by understanding potential risks to your business and finding ways to minimise their impacts, that will enable you to have a plan of action in place to quickly help your business recover if an incident occurs.
Insurance companies are increasingly asking businesses for their Risk Management Plan.
The types of risks will vary from business to business, but the process involves common themes and your risk management plan should detail your strategy for dealing with risks that are specific to your business.
Our Risk Management Planning covers key areas, such as:
* Assessing your business and ways of identifying risk
* Analysing the level of risk
* What is the likelihood and what are the consequences
* Avoiding the risk and reducing the risk
* Transferring the risk
* Accepting the risk
* Insure the risk
It is important to allocate time, a budget and resources for preparing a risk management plan. It will help you meet key legislative and legal obligations in order to comply with health and safety regulations by providing a safe workplace environment.