Risk Management - Our View
Risk management is a systematic and scientific approach used to
prevent adverse consequences and minimize the adverse effects of
losses in an organization. Risk management principles are employed
to identify, avoid, prevent, minimize, abate, segregate, mitigate or
contractually transfer adverse consequences and their subsequent
losses.
Lessard and Associates, LLC

Risk Management and
Communication Solutions
IMPACT
 RISK MANAGEMENT ACTIONS
Significant
 Considerable
management
required
 Must manage
and monitor risk
 Extensive
management
essential
Moderate
 Risk may be
worth accepting
with monitorin
 Management
effort worthwhile
 Management
effort required
Minor
 Accept risk
 Accept risk, but
monitor risk
 Manage and
monitor risk
  Low
 Medium
 High
PROBABILITY
ILLUSTRATIONS OF THE RISK MANAGEMENT PROCESS