Risk Reduction: It’s Better to Reduce It Than Manage It
Risk can pop up any place where decisions are made. It could be more than a risk when it is a business decision, which could bring down an entire company. Risk reduction involves anticipation of anything, both personal and professional, that could impact an entire enterprise at a moment’s notice.
National Weather Service
Television weather maps do not always tell the whole story. You can look at both sides of the coin: historical weather events do not change, but predictions for future events have greater risk. The National Flood Risk Management Program run by the U.S. Army Corps of Engineers is a perfect example.
In 2006, the two group with aid from the Federal Emergency Management Agency (FEMA) established Silver Jackets as the information solution assisting state and local government with identification and management of risky flood zones.
Communications surrounding this information must be available for future research and reference. Perhaps a flood zone should be a “no build” zone, but historical patterns need to be revisited to determine whether risk reduction could happen. While you can reduce risk and manage resulting reduction, it may never be easy to eliminate.
Risky Business Decisions
Likewise, certain business decisions come with the element of risk. When his staff made the decision to create a traffic jam at rush hour, Governor Christie’s inner circle thought they were doing him a favor. However, they did not stop to evaluate the risk they were causing themselves in the process.
None of those involved in the traffic jam are working today. The same scenario could occur within businesses that accept alternate currencies as payment for goods or services. They could become victims of a value-less economy that has nothing to support the payment system they are using or accepting.
Secure and Preserve
According to Murphy’s Law, anything that can go wrong will go wrong at the worst possible moment. That is the very moment when having a paper trail would help immensely. Whether it is in the form of notes, emails or complete documents, no one can dispute the necessity to archive any communications.
For this reason, it is beneficial to practice risk reduction before risk management. When you contact us, we can explain the importance of preserving and securing information and show how we can help you to choose the best solution. Businesses with government contracts, a looming court case or a bankruptcy claim (their own or that of a client), benefit from collecting and archiving all information that could prove critical now or in the future.
