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Risk Management.

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What considerations must be identified and evaluated when implementing a risk management program designed to maximize proetecting an organization's reputation, and financial and professional assets?

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Solution Summary

This solution outlines what should be considered when implementing a risk management program for protecting an organization's reputation and assets.

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In order to maximize the reputation and financial and professional assets of an organization the following consideration ought to be taken into account when implementing a risk management program.

Cost of implementation vs. potential gain: in this case the potential gain is found by calculating the cost of damage anticipated in the absence of the risk management program and comparing the cost of the potential damage to the cost of preventing the damages. This is an important consideration because it will aid the organization in allocating funds to risk management. They want to allocate enough funds in order to feel financially secure in case of an adverse event, ...

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