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. Profoundly inspirational risk management quotes will brighten up your day and make you feel ready to take on anything.
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Famous Risk Management Quotes
Good risk management fosters vigilance in times of calm and instills disciplie in times of crisis. Dr Michael Ong
The first step in the risk management process is to acknowledge the reality of risk. Denial is a common tactic that substitutes deliberate ignorance for thoughtful planning. CHARLES TREMPER
Managing risk is very different from managing strategy. Risk management focuses on the negative-threats and failures rather than opportunities and successes. Robert S. Kaplan
Some risks that are thought to be unknown, are not unknown. With some foresight and critical thought, some risks that at first glance may seem unforeseen, can in fact be foreseen. Armed with the right set of tools, procedures, knowledge and insight, light can be shed on variables that lead to risk, allowing us to manage them. Daniel Wagner
If everything is a matter of luck, risk management is a meaningless exercise. Invoking luck obscures truth, because it separates an event from its cause. Peter Bernstein
Risk management should be an enterprisewide exercise and engrained in the business culture of the organization. OSFI Superintendent Julie Dickson
Anything that government and industry learn from hackers must be seen through the lens of their own risk management needs. Paul Proctor
Here’s the essence of risk management: Risk no more than you can afford to lose, and also risk enough so that a win is meaningful. If there is no such amount, don’t play. Ed Seykota
For most organizations, the lack of a consistent risk management framework leaves a lot of important and timely information trapped in documents and in people’s heads. Effective information management not only helps make business operations more efficient, but also mitigates risk. Most organizations are so busy just trying to manage structured information that they haven’t yet addressed unstructured content — much less given enough attention to litigation risk associated with information. BARRY MURPHY
Total enterprise risk management is critical, but implementing it is both expensive and easier said than done. Even the most sophisticated financial institutions are still basically silo risk managers. Danny Klinefelter
All of life is the management of risk, not its elimination. Walter Wriston
To competently perform rectifying security service, two critical incident response elements are necessary: information and organization. Robert E. Davis
The risk management needs to lift up from risk control to risk intelligence which can identify the potential business growth opportunities Pearl Zhu
Opportunity and risk come in pairs Bangambiki Habyarimana
Never take both hands off the pump. As an entrepreneur, you need to be on constant lookout for opportunity, and that will involve risk. But you minimize those risks by keeping one hand on the pump that is producing for you. Kenneth E. Behring
Risk management is a more realistic term than safety. It implies that hazards are ever-present, that they must be identified, analyzed, evaluated and controlled or rationally accepted. Jerome F. Lederer
You live in a grim universe. That’s risk management for you. Max Gladstone
Risk comes with the territory when you are breaking new ground. Learn how to evaluate and mitigate these risks rather than take away people’s power and autonomy. Leena Patel
If you treat risk management as a part-time job, you might soon find yourself looking for one. Deloitte white paper
Top Risk Management Quotes
Being able to be repeated controllably is one key element in risk management. Toba Beta
The essence of risk management is the management of risks, not the management of returns. Benjamin Graham
The essence of risk management lies in maximizing the areas where we have some control over the outcome while minimizing the areas where we have absolutely no control over the outcome. Peter L. Bernstein
Let’s be honest: starting, owning and running a business is inherently risky. Creating the right systems is what helps you manage the risk. And risk management is incredibly important. Tom Corson-Knowles
Thoughtfully assessing and addressing enterprise risk and placing a high value on corporate transparency can protect the one thing we cannot afford to lose: trust. Dale E. Jones
The key to risk management is never putting yourself in a position where you cannot live to fight another day. Richard S Fuld Jr
Risk managers and investment bankers and actually, all kinds of investors took on more risk than they expected. So there was a failure of risk management. There was a failure to recognize how much risk there was in some of these securities that people bought. Robert F. Engle
Risk management systems and controls may discourage or limit certain revenue-generating opportunities. Failure to ensure the independence of these functions from the revenue generators and risk takers has been shown to be dangerous, and this is something for which the board is accountable. Jerome Powell
Risk management is a culture, not a cult. It only works if everyone lives it, not if it’s practiced by a few high priests. Tom Wilson
Keeping the risk management plan up to date can transform it from a door stop into a vital project management tool. Remember: what you don’t know can kill your project. Bruce Pittman
Not taking risks one doesn’t understand is often the best form of risk management. Raghuram G. Rajan
Risk management is about people and processes and not about models and technology. Trevor Levine
If you don’t invest in risk management, it doesn’t matter what business you’re in, it’s a risky business. Gary Cohn
A major lesson in risk management is that a ‘receding sea’ is not a lucky offer of an extra piece of free beach, but the warning sign of an upcoming tsunami. Jos Berkemeijer
Alignment of business strategy and risk appetite should minimize the firm’s exposure to large and unexpected losses. In addition, the firm’s risk management capabilities need to be commensurate with the risks it expects to take. Jerome Powell
Stronger regulation and supervision aimed at problems with underwriting practices and lenders’ risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates. Ben Bernanke
