Why Risk Assessment?

Why should you perform a risk assessment? First of all, it may be for simple reasons because you’re being asked to do one. Maybe you have a customer or compliance framework that is demanding that you prove that you do a risk assessment. A lot of times people start there because someone is forcing them to provide a document that says risk assessment on the cover. That can be a perfectly good reason to do a risk assessment in order to satisfy some business relationship that you have. But, if you really get down to why you should do risk assessment, it is so critical for your business to be able to understand the risks that you face and also be able to communicate what you are doing about it. Internally, within your organization, you need to be able to discuss those risks and make decisions about how your business is going to interact with that risk. You will make decisions about what your procedures are, what your standards are. You will decide how to train your staff in order to follow the rules that you’ve put into place in order to minimize your risk. So, at the heart of all these decisions that we all make day-to-day within our organizations is how we deal with risk. So, the reason why you should do risk assessment is to improve your organization, to grow. When you are maturing as an organization, a very healthy group will understand the risks that they’re facing and how they can improve the way they respond to the threats that could possibly expose the risk at any given time. So, reach out to us today and let us help you get on your own risk assessment journey, we would love to help.  

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