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Risk management is a structured approach to managing uncertainty and includes actions taken to:
Risks are events, situations or circumstances which lead to negative consequences for your business.
A good risk management plan with appropriate risk management strategies can minimise costly and stressful problems, and may also reduce insurance claims and premiums.
Download the Risk Analysis Matrix (2-page Word doc 72 KB) for examples of the different types of risks your business might encounter.
A risk management plan:
Your risk management plans should be regularly reviewed to ensure they accurately reflect current potential risks to the business.
Read the Risk Management Plan for an easy step-by-step guide to developing your own.
For additional information about risk management planning: