Risk management is used primarily to identify the steps we can take to avoid the loss or lessen the impact of threats such as hurricanes, floods, tornadoes, and terrorism. But what about pandemics? What do risk leaders in business and government need to bear in mind as they respond to the current COVID-19 crisis – and prepare for a future that may very likely include additional waves of infection? To effectively evaluate risk in a pandemic, leaders need to focus on the right metrics and consider all dimensions of risk: severity, likelihood, and velocity. How quickly might the effects manifest themselves inside your organization, supply chain, and balance sheet? As we navigate through the COVID-19 crisis, there are lessons we can apply from previous pandemics, and actions we can take today to set the stage for a more resilient future With reference to the above abstract, discuss the ‘total cost of risk’ for organizations. Three risk management objectives need to be considered.
Risk management is used primarily to identify the steps we can take to avoid the loss or lessen the impact of threats such as hurricanes, floods, tornadoes, and terrorism. But what about pandemics?
What do risk leaders in business and government need to bear in mind as they respond to the current COVID-19 crisis – and prepare for a future that may very likely include additional waves of
infection? To effectively evaluate risk in a pandemic, leaders need to focus on the right metrics and consider all dimensions of risk: severity, likelihood, and velocity. How quickly might the effects manifest themselves inside your organization, supply chain, and balance sheet? As we navigate through the COVID-19 crisis, there are lessons we can apply from previous pandemics, and actions we can take today to set the stage for a more resilient future
With reference to the above abstract, discuss the ‘total cost of risk’ for
organizations. Three risk management objectives need to be considered.
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