Risk Analysis

‘Ignorance of a risk is no excuse, and will not prevent it from wiping out a business’

Risk Analysis can appear daunting, depending on the complexity and nature of the business; it can range from a complex plan covering every conceivable event to a simple decision to use ‘off the shelf’ products only. Weall Management Services provides specialist assistance from many sources, including health and safety, logistics, environmental health and other areas of expertise.

Risk analysis is fundamental to the safe and legal operation of all businesses; WMS works with clients to recognise the threats and minimise their liabilities. It is important to remember that under UK legislation everyone in a business has responsibilities to ensure that risks are identified, minimised and managed.

The most obvious risks may not have the most impact an a business. Risk falls into several categories, including health & safety and business contingency (e.g. warehouse flooding, major customer defaulting, etc). In risk consulting, the analysis will assess the likelihood of a risk happening and the scale of its impact on the business. A major issue that could occur frequently is obviously a far higher risk than an inconvenience that occurs rarely.

WMS works with clients to conduct thorough analyses of their infrastructure, processes and workflow. The result will be a clear statement of the risks to the business that will inform consideration of what needs to be done next.

The analysis can be prepared piecemeal if necessary, tackling the business critical functions separately and in line with the client’s business focus. When the task of analysis has been completed it will only need updating when the risks change.