Risk management is a method for identifying risks, for developing
and implementing programs to first, prevent an accident, loss, or
injury and second, to protect the organization. A good risk
management program is comprised of four stages:
Risk control measures involve either preventing losses from happening or reducing the
adverse effects of risk. There are essentially three classifications of risk control:
Risk financing involves finding ways to deal with paying for those losses that inevitably do occur.
There are really only two classifications of risk financing techniques:
Regardless of the risk management techniques chosen at any one time, you should be aware that
risk management is an ongoing and evolving process. Thus, your risk management program should
be monitored and improved to adapt to changes as they occur over time. As you plan and schedule
events and activities for your organization, planning ahead and executing your risk management
plans will help protect you and your participants, even as new risks arise. Thorough preparation
and documentation of your plan is the best defense against negligence.