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Risk Management 101
The Risk Management Process provides organizations with the Risk management policies and procedures can easily be followed through the use of a variety of management tools currently in place or put into place, such as equipment and facility schedules, inspection forms and security check lists including catastrophe plans, to name a few.tools necessary to identify and manage loss exposures.
As an effective management tool the organizations should establish a Risk Management Policy Statement that would
include goals and objectives to be met by staff. The policy would also highlight the organization’s commitment to
the plan and provide staff with authority, responsibility and accountability.
Risk management is not a one person function. Risk management requires an understanding by all staff of the
overall goal of preventing accidental loss. Working with other departments is critical to the success of a risk
management plan.
Control of the risk management process can be maintained through a system of constant monitoring and through an examination of the financial impact that risk management has on the overall cost of self-insured claims, uninsured losses, worker compensation costs, engineering costs and administration.
Risk management procedures include identification, measurement, control, finance and monitoring your work, policies and procedures.
Risk management policies and procedures can easily be followed through the use of a variety of management tools currently in place or put into place, such as equipment and facility schedules, inspection forms and security check lists including catastrophe plans, to name a few.
Keith will provide his insight and solutions to these issues and concepts in his presentation.
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