Risk management is the process of identifying, assessing and controlling threats to the organization and the community we serve. These threats, or risks, stem from a wide variety of sources, including personnel issues, legal liabilities, management errors, accidents and natural disasters.
Risk management allows our organization to attempt to prepare for the unexpected by minimizing risks and extra costs before they happen. By implementing a risk management plan and considering the various potential risks or events before they occur, the organization can avoid liabilities, protect the community and organization assets. This is because a robust risk management plan will establish procedures to avoid potential threats and/or minimize their impact should they occur. This ability to understand and control risk enables our organization to be more confident in conducting our operations.