Risk Management Basics:

Risk management is crucial for businesses of all sizes, helping to identify, assess, and mitigate potential threats to their operations and success.

Determining the urgency and impact of an incident helps prioritize responses and allocate resources effectively.

This tool, also known as a fishbone diagram, helps identify potential causes of a problem or event, facilitating root cause analysis.

A well-defined process ensures that issues are addressed systematically, with clear steps for investigation, resolution, and documentation.

Proactively identifying potential risks allows for early planning and mitigation strategies, minimizing potential negative impacts.