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Dynamic Risks: Working Definitions and Implications for Risk Management Teams

On Solve

supply chains in Asia, customer access to retail stores in the US, etc.) Strategically, plan for new types of risks. As a director of Enterprise Risk Management, the author was planning for a large, new water project in Eastern Congo. Scenario planning and war-gaming can include dynamic risks (the scenario has changed).

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Building resilient organizations in an era of climate change

everbridge

For instance, how would a prolonged drought affect supply chains, and what measures can mitigate those impacts? These assessments provide the foundation for informed decision-making and proactive planning. Embrace scenario planning Scenario planning allows organizations to prepare for multiple potential futures.