Dealing with the effects of uncertainty…
Risk is newly defined in the international standard as “the effect of uncertainty on objectives”. In this context it does not state that risk is necessarily negative! Accordingly, treating risk (Risk Management) involves identifying the source of uncertainty, determining the likelihood and consequences of its influence on outcomes and developing commercial strategies to deal with that…good, bad or indifferent.
In its traditional context risk is often considered to be negative. “The probability of something happening that will have an adverse impact upon people, plant, equipment, financials, property or the environment and the severity of the impact.”
(From ASNZA 4360 1999)
Whichever theory you subscribe to, Business Protection Group (BPg) has the experience and capacity to work with clients to identify, assess and then treat the cause of that uncertainty.
If an event is imminent or has already occurred BPg can mobilize to intervene and stop it, interject mid stream and influence the impact, or manage the fall out of events already passed.