Fundamentals of Risk Management

Business continuity
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Thoroughly assessing the disasters that could threaten your firm will give you a clear idea
of the business areas that are most important to secure. Usually, these will be the areas on 
which your business relies the most, and which are exposed to the greatest degree of risk. 
This is the most important part of your plan.
Clearly, your premises are fundamental to your business – so much so that you probably 
take them for granted. But you should consider the long-term impact that damage to or 
destruction of your premises would have on your business. The same applies to business-
critical machinery, plant and equipment.
secure your business

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Part FIve
Risk strategy
LEARNINg OUTcOmEs FOR PART FIvE
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explain the importance of dynamic business models and the relationship with 
strategy, tactics, operations and compliance (STOC) activities;
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outline the components and the importance of the business model and how this 
is supported by the resilience of the organization;
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explain the importance of corporate social responsibility, including supply chain, 
ethical trading risks and the importance of reputation;
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explain the key components of the risk architecture, strategy and protocols 
(RASP) for an organization and how these fit together;
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list the main sections of a typical risk management manual, describe the 
importance of each section and summarize the range of risk documentation and 
records;
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explain the importance of the allocation of risk management responsibilities, 
including the governance responsibilities of non-executive directors;
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produce practical examples of the control of selected hazard risks, including 
risks to finances, infrastructure, reputation and marketplace;
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describe the process of learning from controls in order to ensure that controls 
are cost-effective and risk/reward decisions are appropriate.