ABSTRACT

The first question to ask is: “What am I trying to achieve?” It sounds trivial, but try to answer this question for your organization. Before you start, you need to know the overarching objectives of your organization, and then you can start thinking about identifying the uncertainties in achieving those objectives. Risks do not float around in space waiting to be treated. Risks are all about the uncertainty in achieving the objectives of your organization. Therefore, risks are unique to your unique set of objectives. Understand your organization’s objectives and you have taken your first steps. Now you can start your journey to create and protect value in your organization.