Remove Audit Remove Hazard Remove Insurance Remove Response Plan
article thumbnail

Risk Assessment vs Risk Analysis

Reciprocity

Audit risk. Various types of hazards must be considered. After identifying hazards and risks, consider how they are harmful and the possible outcomes. Implement controls and risk response plans to prevent and mitigate risk. Workflow management features offer easy tracking, automated reminders, and audit trails.

article thumbnail

Business Continuity Guide for Smaller Organizations

Stratogrid Advisory

An added benefit to a more resilient organization will be lower insurance rates These are just a few examples. Insurance companies assess risks to determine the insurance premiums they will charge. BCM Program Assessments and Audits Business Continuity standards, guidelines and industry regulations change from time to time.

article thumbnail

Business Continuity Guide for Smaller Organizations

Stratogrid Advisory

Business Continuity should be one of the top priorities for all organization leaders, and response plans should be implemented in organizations of all sizes. organizations should develop response plans to deal with unexpected events related to: Natural disasters (hurricanes, earthquakes or freezing rain).