Colin John Latham

Colin John Latham defines risk as a possibility that is harmful or undesirable for an organization. These include – injury, harm, and abuse to the organization’s volunteers, clients, board members, property, or reputation.  Keep in mind that it is not possible to eliminate all risk.  Colin John Latham risk management process includes    Identify the risk – Colin evaluates each process of the business and identifies anything that can have a negative impact on the business growth. Assess the risk - Assess each identified risk by establishing: The frequency of the risk’s occurrence   And its impact      3. Treat the risk – Developing cost effective processes to deal with the risk Avoiding   Reducing Transferring Accepting   4. Monitor and review - Regularly monitor and review your risk management plan and ensure the control measures and insurance cover is adequate.  Colin John Latham leverages intelligent tools to identify important information

Risk Management Techniques includes a lot of elements such as – Insurance, financial safeguards, issues related to environment protection, OSHA standards, government legalities, computer backup systems, and a lot more. With all these elements in control these help you in identifying the risk it faces.  Colin John Latham lists down five point risk management system  The success of Risk Management requires a business owner to stick to these steps and practice strict adherence to the rules. These five steps include – Identification of risks Quantifying risks   Formulating Strategies to Contain the Identified Risks Implementing Strategies Continuous Monitoring of Risk Containment Tasks Colin John Latham says the best time to setup Risk Management System is when you are formulating your business plan. At that time, all the components of the business are being examined and discussed, so this is the right time to discuss all the risks as well. Setting up Risk Ma