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Risk Management & Mitigation (RMM)

 

Operational, physical, market, and credit risk mitigation & management is the process of identifying, evaluating, qualifying and quantifying the relevant risks and then developing a strategy, methodology and a project to mitigate and manage the identified risk.

   

In ideal risk management, a prioritization process is followed whereby the risks with the greatest loss and the greatest probability of occurring are handled first, and risks with lower probability of occurrence and lower loss are handled later.

In practice, however, the process can be complex and difficult, and balancing between risks with a high probability of occurrence but lower loss vs. risks with high loss but lower probability of occurrence can often be misconstrued.

A first step in the process of RMM is to identify potential risks. The risks must then be assessed as to their potential severity of loss and to the probability of occurrence.

Once risks have been identified and evaluated, all techniques to manage the risk fall into one or more of these four major categories:
• Avoidance
• Mitigation
• Retention
• Transfer


We developed and deployed among other successful techniques, a unique proven methodology for risk assessment and management.



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