Management Tips » Risk Management

Risk management is the identification and assessment of risks, followed by the application of resources to minimize, monitor, and control the impact of potential problems, or to maximize potential opportunities. The process of risk management goes like this: Identify, characterize, and assess the threats, asses the vulnerability of important assets these threats, determine the risk of proceeding through these threats, identify ways to reduce this risk, and develop a strategy to implement risk reduction measures. An example of nonprofit risk management would be making sure all volunteers receive proper training so they don’t bring potential legal trouble to the organization.

Read more about risk management and why it is important to every nonprofit organization in the articles below.