By Trevor Slater
Most of us set goals in our personal and business lives. However,
whilst we often take action to ensure we reach a goal in our personal
lives, what we often fail to do in our business lives is to look at the
risks that may prevent us reaching those goals.
Take for example when we travel overseas. We
have travel insurance, an itinerary, maps, guides, travel cards and
even vaccinations to minimise the risk of not having a good time. Yet
how many businesses have a plan to ensure your clients’ data is never
lost or how you would run your business if there was a complete IT
failure for some days or you are struck down with an illness?
Almost all of the things that we do in our business involve risk of
some kind, but it can sometimes be challenging to identify risk, let
alone prepare for it.
Risk Analysis helps you understand risk, so that you can manage it,
and minimise disruption to your plans. Risk Analysis also helps you
control risk in a cost-effective way.