MHA Consulting

AUGUST 3, 2023

(Sometimes the potential consequences of a given risk are too small to worry about.) Rather, we do it as a starting point for conducting a cost/benefit analysis of each risk and ultimately applying one of the four main risk mitigation strategies: risk acceptance, risk avoidance, risk limitation, or risk transfer.

Risk Management 95

Risk Management Management All-Hazards Mitigation 95

MHA Consulting

FEBRUARY 23, 2023

Try a Dose of Risk Management As a business continuity professional, I tip my hat to any organization that makes a serious effort to reduce its risks. Unfortunately, many companies do not get their money’s worth when it comes to implementing risk mitigation controls. I wish it were true.

Mitigation 97

Mitigation Authorization Risk Management Risk Reduction 97

MHA Consulting

MARCH 2, 2023

A related but higher level concept is that of risk mitigation strategies. There are four main risk mitigation strategies: Risk acceptance. A strategy involving a conscious decision to remain vulnerable to a potential harm, usually based on a cost-benefit analysis. Risk avoidance. Risk limitation.

Mitigation 95

Mitigation BCM Acceptable Risk Risk Management 95

MHA Consulting

FEBRUARY 9, 2023

There are four main strategies for mitigating risk : · Risk acceptance: Making a conscious decision to remain vulnerable to a potential harm, usually based on a cost-benefit analysis. Risk avoidance: Altering organizational behavior to eliminate a given risk.

Insurance 98

Insurance Insurance Outsourcing Mitigation 98

MHA Consulting

FEBRUARY 29, 2024

In essence, risk management is about being mature, practical, and proactive in actively managing down risk to make the organization more prepared to limit impacts and ensure operational resiliency. Following the risk assessment. Identified risks should not just be ignored with the hope the impact will not occur.

Management 52

Management Risk Management Mitigation Strategic 52

MHA Consulting

OCTOBER 19, 2022

I included MHA’s definitions of the strategies last time in my post on enterprise risk management. In case you missed it, here they are again: Risk acceptance is a conscious decision to remain vulnerable to a potential harm, usually based on a cost-benefit analysis. It should become a part of the company culture.

Risk Management 52

Risk Management Management Mitigation Business Continuity 52

Reciprocity

OCTOBER 7, 2024

No matter your industry, business relationships with third-party vendors are the most significant risk to your information landscape. Making a list of all prospective third parties and assessing their risk is the first step in the third-party due diligence procedure. What information does the vendor access?

Cybersecurity 52

Cybersecurity Audit All-Hazards Risk Management 52