Although current international standards use a broad definition of risk that includes both threat and opportunity, most organisations still fail to use the risk process to manage opportunities proactively. Simple process enhancements can ensure that both are treated with equal importance
- Uncertainty, risk, threat and opportunity – current definitions
- Using a single risk process for both downside and upside risk
- Two dimensional identification techniques for both threats and opportunities
- Prioritising the worst threats and best opportunities
- Developing appropriate strategies to minimise threats and maximise opportunities
- Benefits of an integrated approach.
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