We’ve come to the end of Jiaqi Sun’s review of enterprise risk assessment methodologies. All that’s left to do is sum up what we’ve discussed, with potential recommendations.
Risk management and assessment are not new concepts and have been evolving for decades. Many methodologies and techniques originate from the military, aviation, shipping and petroleum industries, such as FMEA and bow-tie analysis. Today, they remain some of the major risk assessment tools in various industries, such as mining, manufacturing and construction.