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Shortcomings of Risk Management Plans

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In your experience, where do risk management plans fall short?

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Solution Summary

The well-cited solution of 391 words lists six major reasons where risk management plans may fall short followed by real world examples.

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In general, risk management plans probably fall short because:

1. They are not taken as seriously as they should be by management
2. They are not updated as frequently as they should be for changing circumstances
3. They do not consider the total possible extent of the damage that could be done
4. They are short-sighted in terms of the longer future period of time
5. They did not list all the possible risks
6. They were not well done or well documented when originally prepared and/or didn't involve all the people or departments they should have

The posting did not specify whether the risk management plan was intended for a particular ...

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