Risk assessments are part of daily life. Whenever we look both ways before crossing the street, we're conducting a risk assessment. Unfortunately, we don't always make risk assessments a daily part of our business lives. Whenever we start a new project, whether it be a large-scale effort with global reach or a low-key meeting next week, we should make risk assessment part of our preparation.
Just the term "risk assessment" can make the task sound complicated and time-consuming. But for most activities, risks can be identified and addressed in a few minutes -- especially when using the Event Risk Worksheet.
Here's how it works. For each activity, think about what can lead to:
-
Bodily injuries
-
Personal injuries (i.e., psychological or emotional injuries, such as discriminatory behavior)
-
Property damage
-
Legal risks (claims of violations of the law that may not involve bodily injury or property damage, such as refusing entry to an event for failure to adhere to guidelines, etc.)
-
Financial risks (such as costs associated with cancellation of an event)
-
Reputational risks (something that might make the organization look bad)
-
Cyber risks (such as data breaches, exposure to sensitive privacy P4 information, etc.)
-
Any other risks, examples of which include cyber-risk (if you're collecting personal information for a database) and medical risk (if your organization holds an event that includes a medically invasive service)
List the specific risks for each Area of Risk in the second column.
Then list what can be done to minimize or eliminate those risks in the third column. This gives you a risk mitigation plan that can be used to prevent losses and show that you've put thought and care into your activity.
For more complex activities, such as starting an international operation, contact Risk Services at risk@berkeley.edu (link sends e-mail) or 642-5141.