Can your risk solution model 'many-to-many' relationships?

Choosing controls and subsequently optimizing the allocation of resources to risk controls requires identification and processing the many to many relationships involved between risk events, causes of the events, and objectives to which the events have consequences.

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Two Types of Risk

In our last blog we learned that there are two classifications of of risk:  

the risks you take, where you have control and the risks you face which are caused by involuntary events. (Read "What does risk mean to you?")

Here we will discuss the risks you face.

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Risks We Face

Risks we face are uncertain EVENTS that matter. Matter in that if they occur, there will be a loss to one more more of the organization’s objectives.

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What does risk mean to you?

Perhaps you’d say risk is the chance or danger that something is going to happen to cause you to lose something or fail to achieve some goal?

WIkipedia defines Risk as the potential of gaining or losing something of value.   But did you know there are two types of Risk—the risks you take and the risks you face?  With the former you have...

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