What is risk management?

A risk is any exposure to potential loss or damage that can impact on your organisation. 

Risk management is systematically identifying threats (risks) to your organisation and developing ways to minimise those occurring. If when making any decision you question the outcome based on probabilities, then you are already practicing risk management to some degree. In business though it is important that you formalise what you do.

You cannot eliminate all risks, but you can manage them appropriately. Risk management involves developing a system of policies, processes and procedures. Risk management needs to become a part of the culture of your organisation, rather than being seen as something separate. Even if the process used is informal, it should be documented and based on a known system.

Risks can generally be grouped under four headings:

1. Physical - injury or damage to persons or property

2. Legal - breaching legal obligations

3. Moral/Ethical - harm to your organisation's reputation

4. Financial - loss of assets of the organisation

Equilibrium offers Risk Management services through our Management Systems Division and, specifically in the I&CT industry when involved with Business Continuity Planning, through our Network Risk Specialists (Risk Management Australia).  

 

Equilibrium provides Compliance Management System Services. 

For Small to Medium Enterprises, we use the My-Backoffice Integrated Compliance Management Solution. The solution allows us to deliver our services at a cost saving of up to 70% compared to traditional Compliance Management Systems.  

 

Investigate the My-Backoffice systems and/or arrange a demonstration licence.

 

Equilibrium contractors and staff have all the required academic and/or industry qualifications to perform our work.  

 

Our contract staff (totally 25 around Australia and internationally) are highly motivated and customer-centric in their business dealings.  References are available on request.