Risk Quantification can be both an enticing and intimidating exercise for a business to pursue. How does an organization get from point A to point B (and back again) to score and value risk? In this session, we'll take a back-to-basics approach to break down the concept of risk, contrast this understanding with some of the modern applications of risk in business, and discuss how people across your organization may interpret the meaning of risk. We'll diagnose some of the common pitfalls companies fall into and identify perspectives to help account for variables that do not have defined parameters when understanding risk.
KEY TAKEAWAYS:
• Understand how you can use risk metrics as a planning tool beyond mitigation tactics.
• Identify five simple steps to apply and guide your quantification strategy.
• Account for the "new normal" businesses are navigating for today and tomorrow.
• Take a mixed approach to quantification to help retain qualitative risk insights