- "Risk management is the identification, evaluation, and prioritization of risks... followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities."
Stage managers must identify and manage any risks that could arise during the production process, such as safety risks or artistic risks.
Risk Identification: The process of identifying potential risks that could occur during a production or event.
Risk Assessment: The evaluation of the likelihood and potential impact of identified risks.
Risk Analysis: The process of evaluating the consequences of each risk and determining the appropriate response.
Risk Mitigation: Implementing measures to reduce the likelihood or impact of a risk.
Risk Monitoring: Keeping track of risks and assessing any changes or new risks that may arise.
Emergency Planning: Developing a plan of action in the event of an emergency.
Crisis Management: Managing unexpected or severe situations that could impact a production or event.
Health and Safety: Ensuring the health and safety of all individuals involved in a production or event.
Insurance and Liability: Understanding insurance policies and liability coverage in case of unexpected events.
Contingency Planning: Developing plans for unexpected events or changes in plans.
Contract Negotiation: Understanding and negotiating contracts to limit risk.
Record Keeping: Maintaining accurate records of production and event details, including any incidents or risks that occur.
Communication: Effective communication with all individuals involved in a production or event to ensure risk management plans are understood and followed.
Evaluation and Review: Regularly evaluating and addressing any gaps or necessary changes in risk management plans.
Project Risk Management: A systematic process that identifies, analyzes, and responds to project risks that can impact the scheduled completion, budget or success of the project.
Technical risk management:: The use of science, technology, and engineering to identify, assess, and manage risks associated with product development, production.
Financial Risk Management: This involves identifying, analyzing, and managing risks related to financial operations, including credit and market risks.
Security Risk Management: The process of identifying and managing security risks, including physical and cyber threats, to ensure the safety of people, property, and information.
Environmental Risk Management: The process of identifying and managing environmental risks, including those related to pollution, climate change, and natural disasters.
Change Management: The process of anticipating, planning, and managing changes to a project or business process to mitigate risks and ensure a smooth transition.
Legal Risk Management: The process of identifying and managing legal risks, including those associated with contracts, lawsuits, and government regulations.
Crisis Management: The process of anticipating, preparing for, and responding to crisis situations, including natural disasters, organizational crises, and reputational crises.
- "...risks (defined in ISO 31000 as the effect of uncertainty on objectives)..."
- "Risks can come from various sources including uncertainty in international markets, threats from project failures, legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause."
- "Negative events can be classified as risks while positive events are classified as opportunities."
- "Risk management standards have been developed by various institutions, including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards."
- "Strategies to manage threats typically include avoiding the threat, reducing the negative effect or probability of the threat, transferring all or part of the threat to another party, and even retaining some or all of the potential or actual consequences of a particular threat."
- "As a professional role, a risk manager will 'oversee the organization's comprehensive insurance and risk management program, assessing and identifying risks that could impede the reputation, safety, security, or financial success of the organization'."
- "Risk Analysts support the technical side of the organization's risk management approach... analysts share their findings with their managers, who use those insights to decide among possible solutions."
- "Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety."
- "Certain risk management standards have been criticized for having no measurable improvement on risk, whereas the confidence in estimates and decisions seems to increase."
- "Opportunities are uncertain future states with benefits."
- "See also Chief Risk Officer, internal audit, and Financial risk management ยง Corporate finance."
- "Risk managers develop plans to minimize and/or mitigate any negative (financial) outcomes."
- "The primary goal of risk management is to minimize the probability or impact of unfortunate events or maximize the realization of opportunities."
- "Risk evaluations are conducted to assess and identify risks that could impede the reputation, safety, security, or financial success of the organization."
- "Managers use insights from risk analysts to decide among possible solutions."
- "The main components of risk management include the identification, evaluation, and prioritization of risks, followed by the application of resources to minimize, monitor, and control the probability or impact of events."
- "Negative consequences of threats can include financial, reputational, safety, security, or operational impacts."
- "ISO standards provide quality management standards to help work more efficiently and reduce product failures."
- "Negative events can be classified as risks while positive events are classified as opportunities."