It’s a Wrap
There it is—risk management in action. Each of these case studies demonstrates that specific risk combinations are unique to each business and its objectives. So are the specific combinations of risk management measures and solutions that are deployed. However, as these case studies also make clear, you can use a particular combination of the same tried-and-true rules and guidelines to effect good results—no matter what type of company you run. That is the beauty of risk management and why it is vital to your company. Especially in these uncertain times.
The Least You Need to Know
◆ Good risk management involves balancing the types of measurement and management approaches against the types and materiality of risks and the level and capability of your workforce.
◆ Seek out tools and measures that work simply and efficiently for your business—no more, no less.
◆ Always use common sense, and don’t become overly reliant on even the best models and measures.
◆ Check measurements and monitor potential risks regularly and routinely.
◆ Develop checks and balances within your organization; keep your finger on the pulse.
◆ Use the tried-and-true approaches in this book to build a strong, stable risk management program. Good luck!
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