Acceptable Risk Information Mitigation 
MHA Consulting
FEBRUARY 23, 2023
Many companies spend millions of dollars implementing risk mitigation controls but are kept from getting their money’s worth by a disconnected, piecemeal approach. Successful risk mitigation requires that a central authority supervise controls following a coherent strategy. I wish it were true.
MHA Consulting
AUGUST 24, 2023
As a reminder, risk management is the process of understanding the hazards facing an organization and taking steps to bring them to within a level determined to be acceptable by the senior leadership. It’s not about eliminating risk completely but managing it in a rational, informed way. Accepting risk.
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MHA Consulting
MARCH 2, 2023
Inherent risk is the danger intrinsic to any business activity or operation. Residual risk is the amount of risk that remains in an activity after mitigation controls are applied. Putting it in mathematical terms: (Inherent risk) – (the risk eliminated by your mitigation controls) = residual risk.
MHA Consulting
AUGUST 3, 2023
With respect to this process, the total landscape of risk that is assessed and mitigated can be divided into eight risk domains. Finally, everyone involved in assessing and mitigating risk at an organization needs to make sure their work is custom-tailored to that company’s industry and culture.
MHA Consulting
FEBRUARY 15, 2024
An emerging hot topic in business continuity and risk management is the software known as a risk management information system (RMIS). An RMIS can help an organization identify, assess, monitor, and mitigate risks, but often they merely seduce and distract companies that are not in a position to make proper use of them.
MHA Consulting
FEBRUARY 29, 2024
Following the risk assessment. the organization should address each identified risk with one of the four risk mitigation strategies: risk acceptance, risk avoidance, risk limitation, or risk transfer. Identified risks should not just be ignored with the hope the impact will not occur.
MHA Consulting
FEBRUARY 9, 2023
Risk transference is one of the four main strategies organizations can use to mitigate risk. Try a Dose of Risk Management Wise organizations determine how much risk they will accept then make conscious efforts to bring their risk down below that threshold.
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