Over the last months we have on a weekly basis posted comprehensive articles covering tools and models which are useful for any risk manager to know of and be familiar with. In this article we will make a summary of these and dig into exactly what it means to be a risk manager.

Introduction: What is a risk manager?

A risk manager is an individual responsible for managing an organization or project’s risk. The person’s goal is to minimize or remove risks that can result in losses to the organization. This is done by identifying the risks, evaluating them, and deciding on which approach is the safest and most efficient. The risk manager can come in many shapes and forms, since risks are involved in almost any type of work done around the world. This means that whether you are within the construction industry, finances, or consulting, you can most likely benefit from having a risk manager to overview your operations. With there being this many varieties in risk manager approaches, there is equally many models, theories, and tools ready for risk managers to use.

Summary of tools and theories

Below you will find an overview of the articles previously made on the website. This is to help guide you towards what is relevant to you. You can access each article by simply pressing the title of the article.

Black Swan theory: This theory in short explains how to be prepared for what you cannot predict will happen. It is about bolstering your organization so it can get through a crisis of large proportions.

Sendai Framework: This article digs into how the Sendai Framework needs to be taken into account when building new constructions or rebuilding constructions after catastrophes. Furthermore it's goals are to understand risks and how to efficiently mitigate them.

Fault Tree Analysis (FTA): The FTA is an important model in the risk manager toolshed. This model will help understand where and when disasters happen and how to reduce the likelihood of them.

Risk Management Decision: This article takes a deeper look at how a risk manager can get help in their decision making. It bases the decision making off of three different parameters which a risk manager should take into consideration.

The Perception of Risk: This is a theory made by the American professor Paul Slovic. The theory revolves around how an individual perceives risk and what factors play into it. It is one of the most important theories in regards to understanding your employees/co-workers risk perception.

Risk Management: Safety Risk Management: This article takes a closer look at safety risk management, with the goal being to identify the safety hazards and then mitigating these.

Even more articles and posts can be found in the RICO section on the website. Make sure to carefully study these when engaging in a large project or day-to-day work in an organization!