Responding Effectively to Risks

The third step to take when managing risk once you’ve identified and assessed risks to your organization is to deal with them appropriately. Some risks may have a higher probability of becoming a reality than others while others may have more of a negative impact. You’ll need to treat each of these types of risks differently. This course covers how to create an effective strategy for responding to risk such as risk exposure adjustment and contingency planning. It also outlines specific strategic plans for dealing with a risk that may be a threat or an opportunity.