Risk Mitigation As a Technological Challenge

Risk Acceptance As a Strategy To Manage Risks

This is a continuation of the discussion on strategies for managing risks.

The upside of risk avoidance is you need not fear the consequences of being exposed to the risks. The downside is nothing ventured, nothing gained. The question then becomes is risk avoidance a realistic strategy for your organization? At R. L. Sligh Limited, we recognize that risk management strategies are not mutually exclusive. Through care analysis and assessment, we can help you select the best option for reducing risks to your organization.

A business continuity plan is a playbook for continued operations in the event a risk materializes into an incident. Every organization, no matter the domain or environment in which it operates is exposed to risks. Risk identification and management is a critical component of any business continuity plan. For a business continuity plan to be valid, it must address all relevant risks faced by the organization. What is a risk? What is the difference between a risk and a threat? How do you determine the risks for which your organization should prepare?

Organizations must prepare for risks within their operational environment. Proper preparation to include an emergency operations plan and a continuity of operations plan will help the organization to be resilient at least.