Using Risk Assessment Methodologies to Meet Management Objectives

Abstract

Corporate and program objectives focus on desired performance and results. Management decisions that affect how to meet these objectives now involve a complex mix of: technology, safety issues, operations, process considerations, employee considerations, regulatory requirements, financial concerns and legal issues. Risk Assessments are a tool for decision makers to understand potential consequences and be in a position to reduce, mitigate or eliminate costly mistakes or catastrophic failures. Using a risk assessment methodology is only a starting point. A risk assessment program provides management with important input in the decision making process. A pro-active organization looks to the future to avoid problems, a reactive organization can be blindsided by risks that could have been avoided. You get out what you put in, how useful your program is will be up to the individual organization.