MHA Consulting

FEBRUARY 23, 2023

Many companies spend millions of dollars implementing risk mitigation controls but are kept from getting their money’s worth by a disconnected, piecemeal approach. Successful risk mitigation requires that a central authority supervise controls following a coherent strategy.

Mitigation 83

Mitigation Authorization Risk Management Vulnerability 83

MHA Consulting

MARCH 2, 2023

Residual Risk There are two main kinds of risk when it comes to organizational activities and business continuity: inherent risk and residual risk. Inherent risk is the danger intrinsic to any business activity or operation. This leftover risk is the residual risk. Risk transfer.

Mitigation 75

Mitigation BCM Acceptable Risk Risk Management 75

MHA Consulting

FEBRUARY 9, 2023

Risk transference is one of the four main strategies organizations can use to mitigate risk. Try a Dose of Risk Management Wise organizations determine how much risk they will accept then make conscious efforts to bring their risk down below that threshold. 2) Is the vendor resilient?

Insurance 87

Insurance Insurance Outsourcing Mitigation 87

MHA Consulting

AUGUST 24, 2023

It’s not about eliminating risk completely but managing it in a rational, informed way. Because the organization and environment inevitably change over time, managing risk is a task that’s never done. It’s a permanent ongoing activity. The operational areas that risk management is concerned are broad and varied.

Risk Management 90

Risk Management BCM Management All-Hazards 90

MHA Consulting

AUGUST 3, 2023

As a practical activity, enterprise risk management (ERM) centers on eight distinct risk domains, some strategic and some operational. With respect to this process, the total landscape of risk that is assessed and mitigated can be divided into eight risk domains.

Risk Management 75

Risk Management Management Strategic Mitigation 75

MHA Consulting

OCTOBER 19, 2022

I included MHA’s definitions of the strategies last time in my post on enterprise risk management. In case you missed it, here they are again: Risk acceptance is a conscious decision to remain vulnerable to a potential harm, usually based on a cost-benefit analysis. It’s engaging in active, mindful risk mitigation.

Risk Management 52

Risk Management Management Mitigation Business Continuity 52