The 4 Types of Risk Management

As the old saying goes, there’s more than one way to cook an egg. Fried, poached, scrambled, or even boiled! Each method has its strengths and weaknesses. After all, you wouldn’t put scrambled eggs on a salad! Far too messy.

When it comes to risk management, there are 4 main ways of doing things: accept, transfer, avoid, and reduce. Like eggs, they each work better in some scenarios than others, so picking the right one is critical. This course will help you select the right approach to managing risks in your business.

By the end of this course, you’ll be able to:

• Define the 4 risk management strategies
• Compare the 4 strategies to select the most appropriate one for the risk in question
• Implement the 6 stages of the risk management process

Why take this course?

This course will help you understand the 4 risk management strategies and where it is most appropriate to use them. Suitable for business leaders, owners, and operational managers, you’ll also learn the risk management process you can utilize with all 4 approaches.

10 mins | SCORM | Takeaway Tasks