How to Manage Business Risk - Colin John Latham

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 –


  1. Identification of risks
  2. Quantifying risks
  3.  Formulating Strategies to Contain the Identified Risks
  4. Implementing Strategies
  5. 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 Management System helps you to go over your risks from the very beginning.  Colin John Latham at this stage and help you plan effective Business Risk Management process. He will help you shield your business from all the forth coming risks. It is also important to remember that Risk Management System should be periodically reviewed and updated to address the growing challenges. 

Colin John Latham is a Business Risk Management professional who attended the St. Virgil’ College. He was also the elicit member of the Student Council, from 1984 – 1987. Colin is fitness savvy and has competed in Olympic Distance Triathlon in Melbourne, Sydney, Noosa, Gold Coast, and Fiji with a best time of 2 hours and 12 minutes. He has also competed in Open Water Swimming Events at Lorne, Torquam, Williamstown, St. Kilda, Brighton, Mt. Martha, Portsea, and multiple times on Australia’s Sunshine Coast and International Distance upto 2.5 km. 

Colin does a lot of Charity and considers supporting his community his social responsibility. To work for the cause he annually participates at “Murray to Moyne” 24 hours cycling event to raise money for the hospitals.

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