Risk Assessment Strategy is vital to an organisations survival and it should cover an extensive range of different areas and must be included as part of the monitoring of performance process.Inclusions in the risk profiling include (additional inclusions will depend on the type of products / services you are engaged in) :

  • Cash - working capital available to meet future needs 
  • Insurance - coverage required to to protect operations and assets in the event of loss from an insurable event
  • Supply chain - performance critical goods and services
  • Key staff - people who are operational critical because of their knowledge and expertise
  • Key advisers - up to date knowledge and application/use of legislation, governance, tax, accounting, ASIC, ACCC, OH&S, legal etc eliminates or minimises penalties etc that can cause loss 
  • Data and physical security 
  • Major customers financial viabiliy
  • Creditors financial viability
  • Major competitors activities
  • Latest technology advancements
  • Investors long term support
  • Stability of countries that are vital to operations
  • Minimise the dependency on too few customers and suppliers
  • Adequate succession planning
  • Disaster recovery plans
  • Product liability
  • Adequate product range
  • Adequate product pricing/margins
  • Ceasing operations criteria
  • Performance level requirements of CEO and Board