What Tools and Techniques Can Assist in Risk Assessments?
Several tools and techniques can assist in conducting risk assessments, including:
SWOT Analysis: Identifies strengths, weaknesses, opportunities, and threats related to the business. PEST Analysis: Examines political, economic, social, and technological factors that could impact the business. Risk Matrix: A visual tool that helps in assessing the severity and likelihood of risks. Scenario Planning: Involves creating and analyzing different future scenarios to prepare for potential risks. Risk Assessment Software: Various software solutions can automate and streamline the risk assessment process.