Risk management will not make decisions for the business
Risk management can assist a business owner to make decisions. However,
these decisions will be limited by the depth of the research and analysis of risk,
the individual (s) involved in the risk assessment, their relevant experience and
exposure to risk management and, most importantly, who has not been involved
• Risk management will not guarantee freedom from all risk
While it is impossible to be able to predict all negative consequences to a business,
risk management can help a business owner to be prepared for an adverse consequence
• Risk management will not guarantee that accidents won’t happen
To err is human and where humans are involved there is always the possibility that
a mistake may happen that will lead to an incident