We know the right questions to ask and where to look for the answers you need to properly evaluate and anaylise risks.
Risk is made up of two parts: the probability of something going wrong, and the negative consequences if it does.
Risk can be hard to spot. If you are hit by a consequence that you had not planned for, costs, time and reputations could be on the line.
What is Risk Analysis?
Risk analysis is a process that helps you identify and manage potential problems that could undermine key business initiatives or projects.
You must first identify the possible threats that you face, and then estimate the likelihood that these threats will materialise.
Risk Analysis can be complex, as you will need to draw on detailed information such as project plans, financial data, security protocols, marketing forecast, and other relevant information. However. It is an essential planning tool that could save time, money, and reputations.