As Michael Quinn Kaiser, a former Kaiser manager, knows well, risk management is a process; one designed not only to efficiently manage and mitigate organizational risk, but to ensure such risks are adequately defined, managed and mitigated over time.
An expert and consultant of risk management for much of his career, Michael Quinn Kaiser how important an optimized risk management strategy is to the success and ongoing efficiency of a business.
When broken down, the risk management process commonly includes such elements as:
• Risk identification, both of positive risks (opportunities) and negative risks (threats) the organization faces.
• Risk avoidance. This entails avoiding those actions and projects that lead to undue risk for the organization.
• Development of opportunities. This includes developing those opportunities which may be strategic and beneficial to the organization.
• Threat reduction, generally through the establishment and implementation of an ongoing risk mitigation process.
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Michael Albert Quinn Kaiser 