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quantifying your risksA key element in our approach to risk management is our belief in the value and power of quantifying risk. Our methodology uses real financial values, based upon your business plan, and percentage probabilities of risks occurring rather than abstract scores or ill-defined categories. This enables us to calculate and illustrate graphically, the uncertainty in your business plan and the likelihood of a range of possible financial outcomes: Whilst this may appear to be a time-consuming task, we have developed standard quantified assessments that can be varied to take account of the size of the association and the effectiveness of the control environment. Quantifying key risks enables organisations to: |
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© Hargreaves Risk and Strategy 2004 |
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