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The Critical Importance of Documented Risk Assessment

In April of 1912, Captain E.J. Smith said, “Never in all history have we harnessed suchformidable technology. Every scientific advancement known to man has been incorporated intoits design. The operational controls are sound and foolproof!” This quote went on to becomesynonymous with one of history’s greatest failures to adequately assess risk: the sinking of theTitanic.

Save your Reputation

Like any other potentially damaging business risk, reputational risk must be accounted for andmitigated against. In a corporate sense, reputational risk is defined as the potential for losses in terms of lostrevenue; increased operating, capital or regulatory costs; or the destruction of shareholdervalue, that are the result of damage to an organisation’s reputation. Most often,