Risk management simply refers to the process of identifying, assessing, and combating possible risks that could affect a project, business, organization, or even individual. The truth is that every successful business is a product of effective risk management. Whether you … Read More
Author Archives: Chinedu Ozulumba
Real-Life Case Studies: Successful Risk Management in Action
Risk management enables businesses to anticipate potential problems and also create a plan to address the problems if they occur. When there is a thorough plan for risks, projects won’t stop even when surprises pop up because there is a … Read More
Why do companies still prefer spreadsheets over custom applications?
Hang on a sec…is your company still running on spreadsheets? Don’t worry, you’re not alone! Let me explain: Over the years, I’ve come to discover some really sweet things about spreadsheets. Let me show you: Spreadsheets are intuitive, and cost-effective … Read More
The Ultimate Audit Checklist
Audits are essential for ensuring compliance, operational efficiency, and risk management. Whether internal or external, a well-prepared audit can save time, reduce errors, and improve business processes. Here’s a comprehensive audit checklist for SMEs. 1. Planning the Audit 2. Risk … Read More
How to Build a Simple Risk Matrix
A risk matrix is a practical tool that helps organizations identify, assess, and prioritize risks. It’s particularly useful for SMEs that want to manage risks without complex software. Here’s a step-by-step guide to building a simple risk matrix. 1. Define … Read More
5 Vendor Risk Mistakes SMEs Make
Managing vendors effectively is critical for small and medium-sized enterprises (SMEs). Vendors provide essential goods and services, and a single misstep can expose your business to financial, operational, or reputational risks. Yet, many SMEs make common mistakes when it comes … Read More