Risk Management

This article discusses the crucial part that risk management plays in new venture management. Effective risk management is a series of stages joined by feedforward and feedback loops. The stages cover the context of the new venture, communication and consultation with stakeholders, risk assessment, risk treatment, and monitoring and review. To be most effective, risk management in a new venture must include planned and organized activities to manage risks.

Many of the key concepts here are described more fully in an international standard, ISO 31000:2009, Risk management: Principles and Guidelines.

Risk and New Ventures

The early stages of a new venture are often characterized by high uncertainty about events, including changes in specific circumstances, such as income and expense timing, phasing and readiness of procedures, equipment, technology, product ...

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