Risk can be good. Without risk, there would be no reward. The purpose of risk management is not to eliminate risk, but to understand it so that you can take advantage of the upside and minimize the downside. This requires clarity on what risks you are prepared to take, how much, and that you have processes in place to manage these risks.
Risk management can be defined as the culture, processes and structures directed towards realising opportunities whilst managing adverse effects. An explanation for the increased interest in risk managament is the opportunity to apply new thinking and tools on the “new risk reality”. We believe risk management should be an integral part of good business practice at both a strategic and operational level.
The core of risk management is to assess the uncertainty of the future in order to make the best possible decision today. All risk management and all decision-making deal with this general issue. The benefits of risk management are the benefits of better decisions; fewer surprises, improved planning, performance and effectiveness and improved relationships with stakeholders.
Risk management is a key component in most of the work DNV does for our customers. What varies is the scope of our work. The work can be split into three areas:
Read more about some of DNV's risk management services here or browse through 'Our services' to find how we can help you.