More Risk Management Examples and Templates

Recruitment Process Flowchart

Recruitment Process Flowchart

Risk Probability and Impact Matrix

Risk Probability and Impact Matrix

Fishbone Diagram Template for Sales

Fishbone Diagram Template for Sales

Decision Tree Analysis Template

Decision Tree Analysis Template

Influence Diagram for Risk Management

Influence Diagram for Risk Management

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Guide and Best Practices

Risk management is a leadership approach used to identify, assess and eliminate risks that might threaten the success of business decisions, projects, goals etc.

How to manage risks

  • Identify the risks surrounding business activities. For this, you can use process maps, fishbone diagrams, decision trees or a SWOT analysis.
  • Determine the consequences or the impact of each identified risk. This will help you understand the nature of the risk and how it will affect your objectives.
  • Use a risk probability and impact matrix to evaluate the relative impact of a risk and the probability of its occurrence.
  • Based on the magnitude of consequence and probability, rank the risks. Make use of a Pareto chart to do the prioritization.
  • Select the top ranking risks and set out plans to minimize the impact or eliminate the threat.
  • As you apply the planned solutions to mitigate the risks, monitor and review its progress continuously.
  • Using a futures wheel diagram, identify the direct or indirect results of the future decisions you make.
  • Invite your team to edit the diagrams with Creately real-time collaboration and embed them in your intranet or site so everyone can access and read them.

More templates and visual ideas in risk management

Fault Tree Analysis Diagram

Fault Tree Analysis Diagram

Futures Wheel

Futures Wheel

Blank SWOT Arrows Template

Blank SWOT Arrows Template

Pareto Chart

Pareto Chart

Process Decision Program Chart (PDPC)

Process Decision Program Chart (PDPC)

Risk - Reward Analysis

Risk - Reward Analysis