n Civil Engineering = Siviele Ingenieurswese - B4Risk - integration of strategy, management systems and risk solutions : risk management
|Article Title||B4Risk - integration of strategy, management systems and risk solutions : risk management|
|© Publisher:||South African Institution Of Civil Engineering (SAICE)|
|Journal||Civil Engineering = Siviele Ingenieurswese|
|Author||Simon Van Wyk|
|Publication Date||Nov 2014|
|Pages||53 - 55|
B4Risk is a concept that describes the proactive measures an organisation should institute to mitigate the severity of an impact as a result of the risk that it realises. The underlying notion is that organisations are exposed to risks at every level - from strategic level risk, operational or technological risk, disaster risk emanating from natural hazards, to external risks such as global influences and of course the notorious 'black swans'. This article introduces a conceptual risk mitigation model (B4Risk) centred round the well-known quote by Desiderius Erasmus: "Prevention is better than cure". The variety of available risk assessment tools is such that there may be a number of tools potentially appropriate for a given circumstance, the choice of which to use has perhaps become more a matter of taste (Reniers et al 2005).
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