Presenter: Jeffrey Slotnick
Risk, threat, and vulnerability assessments are often misunderstood and therefore misapplied. As this presentation shows, risk assessment is not merely identifying risks and calculating a risk level. It is the entry point for identifying and quantifying all enterprise risks. Further, it is a process of continuous improvement, which ensures accomplishment of the enterprise strategy. Hazard risk assessments have provided the added benefit of identifying opportunities for process improvements and creating efficiencies by identifying systemic inefficiencies. Improving inefficiencies have led to significant cost benefit and savings. Essentially, the risk assessment becomes a road map for creating value while eliminating or minimizing risk. It takes leadership and commitment for this process to be effective. The result is protection of the enterprise from known risks and value creation. The beauty of this process, in addressing known risks and preparing for them, comes from creating high-functioning processes and teams which create the capacity for managing unknown events when they present themselves.