Risk assessment

Risk Assessment
Do you know what risks and challenges your company faces and how these affect the company's ability to achieve its goals? Do you have the tools needed to get a clear picture of the risks? Here you get tips on how to take a first step towards a structured and successful risk management work.


An important step in a company's goal is to identify the risks that may prevent the company from achieving its goals. Identification of risks is most appropriately done through a structured risk analysis, but many companies find it difficult and time-consuming to implement it as part of the business plan. As a result, many companies also suffer from unexpected negative surprises and lost business.

Risk analysis provides an overall picture of the company's challenges
Through a well-thought-out risk analysis, the company gets an overall picture of the most important challenges it faces This is important so that action can be taken to minimise or eliminate the risk. Risk analysis is part of the development of the business plan and / or is a mechanism for improving the company's work by applying internal controls.

Contributes to consensus
Risk analysis helps to draw up a picture of the risks that a company faces and how these risks can affect the ability to achieve strategic goals. Risk analysis becomes an effective and valuable tool for achieving a consensus within a board or management team. A risk analysis provides direction for how to solve the risks or how to control them and follow up.

Identify key people
Prior to carrying out a risk analysis, it is important to identify key people in the company who will be able to identify its risks and challenges. Usually it is those who are part of the management or the board, but there can also be others within the company who can recognise risks.

Write a risk map
When conducting the risk analysis, it is important to include all the areas of risk that affects the company and to evaluate the impact that they have on the company. It is good practice to draw up a map that shows the risks the company is facing and include the level of impact they have on the company.

The next step is to develop an action plan that includes activities to manage the identified risks.

EXAMPLES/CASES

Anna plans to start her own business. She does a SWOT analysis and with the help of this she becomes aware that there are several already existing companies that have the same business idea. Based on the results of the SWOT analysis, Anna finds her own niche and is able to start a business with a focus that none of her competitors have.

Kristina works as a health entrepreneur and has lived in a small rural village for nine years. Kristina is also an assistant and administrator. She operates both nationally and internationally and has team members all over Sweden. She therefore relies heavily on digital tools to conduct sales and to maintain contact with both customers and employees.

Jan is CEO/owner of a company whose work areas are helping private dentists around Sweden with accounting, financial statements, tax planning, purchasing issues, leasing, financing issues, qualified consulting services, management support, training, and organisation and leadership. In a nutshell, they provide business support for private dentists.
MyVA Project number: 2020-1-SE01-KA226-VET-092491
This project has been funded with support from the European Commission. 
The European Commission's support for the production of this publication does not constitute an endorsement of the contents, which reflect the views only of the authors, and the Commission cannot be held responsible for any use which may be made of the information contained therein.
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