Risk Management: Dealing with Risk
The most desirable objective of risk management is to eliminate risk uncertainty, whether for threats or opportunities. But what happens when that's not an option? Even the most thorough planning is subject to risk, and the best leaders are the ones who know how to respond effectively to risk, whether for a threat or an opportunity. This course examines the third stage of risk management—dealing with risk. It provides general strategies for dealing with risk, such as risk exposure adjustment and contingency planning. And it outlines strategies specific to dealing with threats and opportunities.
What You Will Learn
- Distinguishing between the types of responses to threats and opportunities
- Responding effectively to an opportunity
- Calculating the contingency reserve for a given set of risks
- Recognizing examples of contingent response strategies