Strategic Risk Management. 1

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Strategic Risk Management
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Strategic Risk Management
The Most Important Concept(s)
The most important concept in this chapter is the idea of strategic risk management.
This involves looking at risks from a broader perspective and planning how to deal with them
to align with the company’s overall goals and objectives (Edwards et al., 2020). This can be
challenging, but it is important to consider all risks, not just those directly related to the
The Most Important Method(s)
The most important methods for strategic risk management are those that help identify
risks early on and develop contingency plans. It is important to identify risks early because
they can often be mitigated or avoided altogether if caught early enough (Edwards et al.,
2020). Contingency plans are also important because they provide a roadmap for dealing with
risks if they occur. These plans can help minimize the impact of risks and keep the project on
The Most Important Method(s)
Some important terms to know in this chapter include risk management, strategic risk
management, and risk mitigation. Risk management …
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