Risk management

Risk management is the practice of diagnosing, estimating and restraining threats in order to conserve organizations capital and earnings. The main goal of risk managing is to minimize risks and assure unpredictability does not divert the endeavor from the business goals. Risks are parts of our lives and can come from a variety of sources, especially in the business world where even slightest accidents can cause the market collapse. As a means to help organizations implement risk management systematically and effectively vast numbers of standards have been developed worldwide.

Risk-Management

Both risks and standards, change and evolve every day and although following standards is usually voluntary we are encountering more and more regulations that require these standards implementation. Most of the time there are five steps in risk managing:

  • recognize threats
  • estimate the vulnerability of critical assets to specific threats
  • determine risk is acceptable
  • pinpoint ways to reduce those risks
  • monitoring existing risks and tracking new ones

Being aware of risk management importance is crucial for preventing economic, security and other threats harm your company business reputation. The IFMs highly trained and experienced experts are ready to provide you with a route to develop risk standard procedures swiftly and successfully.

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Karl-Heinz Stiegemann
Chairman, IFM Institut für den Mittelstand

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