Running a company is a risky proposition. Too much risk can be very costly, particularly when things go wrong. Too little risk can also be very costly, especially when smart risks are being avoided or too much money is being spent to limit risks.
Significant risks are often hidden or ignored by organizations. The best way to identify and assess these hidden and ignored risks is to survey managers and staff professionals at all levels of the organization. Business Risk Assessment Surveys collect risk information and insight from managers and other key employees and consolidate it by business unit and your organization overall.
You can get information about fraud risk assessment at acuitytec.com/our-solutions-payments-risk-management/.
Companies need a clearer understanding of the risks they are taking to protect the physical, financial, human, and intellectual assets of their companies. The main goal is not to eliminate the uncertainty. Instead, it is to be proactive in assessing and managing risk for your company's advantage.
Risk assessment surveys are a critical tool for any successful risk management process. It is all about identifying, assessing, and managing a wide range of risks at acceptable levels.
What risks does your organization face? How do you know?
Who is responsible for risk management in your organization? Does that person/department have the tools and resources to identify and assess risks effectively? Does your organization have a comprehensive list of risks that is updated annually?
The risk problems facing many organizations today
· Many complexes and broad risks threatening your business
· Lack of tools and processes to identify and assess risk importance and likelihood
· Failure to identify and act on risks until it is too late
· Overspending to avoid risks
· Missed opportunities and profit due to excessive risk avoidance
· Financial losses and reputational impact due to risk failure