Risk assessment is a common first step in a risk management process. Risk assessment is the determination of quantitative or qualitative value of risk related to a concrete situation and a recognized threat.

Quantitative risk assessment requires calculations of two components of risk R, the magnitude of the potential loss L, and the probability p that the loss will occur.

Defined as a formalized basis for the objective evaluation of risk in a manner in which assumptions and uncertainties are clearly considered and presented.

Risk assessment is an important, yet difficult, step in the risk management process. Once risks have been identified and assessed, the steps to properly deal with these risks are more formulaic.

Part of the difficulty of risk management is that measurement of both of the quantities in which risk assessment is concerned- potential loss and probability of occurrence- can be very difficult to measure. The chance of error in the measurement of these two concepts is large. A risk with a large potential loss and a low probability of occurring is often treated differently from one with a low potential loss and a high likelihood of occurring. In theory, both are of nearly equal priority in dealing with first, but in practice it can be very difficult to manage when faced with the scarcity of resources, especially time, in which to conduct the risk management process.

Financial decisions, such as insurance, express loss in terms of dollar amounts. When risk assessment is used for public health or environmental decisions, loss can be quantified in a common metric,such as a country’s currency, or some numerical measure of a location’s quality of life. For public health and environmental decisions, loss is simply a verbal description of the outcome, such as increased cancer incidence or incidence of birth defects. Refer to risk assessment for more information.

If the risk estimate takes into account information on the number of individuals exposed, it is termed a “population risk” and is in units of expected increased cases per a time period. If the risk estimate does not take into account the number of individuals exposed, it is termed an “individual risk” and is in units of incidence rate per a time period. Population risks are of more use for cost/benefit analysis; individual risks are of more use for evaluating whether risks to individuals are “acceptable”.

In the context of public health, risk assessment is the process of quantifying the probability of a harmful effect to individuals or populations from certain human activities. In most countries, the use of specific chemicals, or the operations of specific facilities (e.g. power plants, manufacturing plants) is not allowed unless it can be shown that they do not increase the risk of death or illness above a specific threshold. For example, the American Food and Drug Administration (FDA) regulates food safety through risk assessment. The FDA required in 1973 that cancer-causing compounds must not be present in meat at concentrations that would cause a cancer risk greater than 1 in a million lifetimes.

Barry Commoner and other critics have expressed concerns that risk assessment tends to be overly quantitative and reductive. For example, they argue that risk assessments ignore qualitative differences among risks. Some charge that assessments may drop out important non-quantifiable or inaccessible information, such as variations among the classes of people exposed to hazards. O’Brien further claims that quantitative approaches divert attention from precautionary or preventative measures. Vsit business impact analysis for more information.

Accessing disaster recovery services in the event that your company’s computer network goes down or there is a massive failure of your IT infrastructure is not a huge concern for large business. Generally, large companies, irrespective if they are intense users of IT resources, have professional planners dedicated to business continuity and disaster recovery planning. But for smaller companies who may not have the time or resources to devote to disaster planning, being able to locate and access experienced professionals who can recover data and get a small or mid-sized company’s computer network and IT infrastructure up and running quickly can be the difference between a business setback and permanently closing your company’s doors. Refer to business continuity consultants for more information.

In today’s business world sudden and unexpected business interruptions can come from many varied sources. Whether from flood, fire or the avian flue, tornadoes or terrorism, an unexpected event or unexpected confluence of events can shut down a business quickly, and the amount of time it takes for that business to get up and running again will largely determine the bottom lie impact of the unexpected. And the key to getting a business up and running quickly will usually depend on how quickly the business’ computer systems can be recovered.

On September 11, 2001, New York brokerage firm Cantor Fitzgerald lost its offices and 680 of its 1,000 employees when terrorists leveled the World Trade Center. Cantor Fitzgerald was able to stay in business only because of a competitor that in an act of altruism and empathy offered the managers and employees who survived the terrorist attack the use of a fully equipped back up trading floor from which the survivors of 9-11 could revive the decimated company.

Examples of recovery from the brink of disaster are not usually so dramatic – or inspiring. Unexpected business disasters can and usually do arise from the more mundane and everyday events we hear of. Anything from fire to flooding caused by a burst pipe, to a breakdown in the computer equipment that forms the information and data backbone of virtually every business today, can force a company to stop operations until its IT systems are up and running again. For more information visit business continuity consultants

Fortunately, there is a wealth of expertise available for companies to tap into when the unexpected and unanticipated arise. For small businesses that cannot or do not expend the time and resources in preparedness planning and have not developed a business continuity and disaster recovery plan, a well-resourced computer equipment rentals firm can often supply and configure the computers and servers that will enable a business owner to recover the data and get his or her business up and running quickly after a business disaster. Where data has been lost, compromised or seems unrecoverable, data recovery and data forensics specialists can often step in and recover most if not all of the stored information that a business requires. (Of course, it helps if your system is already configured to backup and store data offsite.)

While business continuity and disaster recovery planning may not be a practical reality for the small business owner, for any growth or mid-sized company it becomes an ever-growing necessity. Just like insurance, the risk that is run by not having a disaster recovery plan eventually outweighs the costs in time and planning resources that help ensure your business will be able to survive an unexpected business disruption.

Once a business recovery plan is formulated, it should be tested. Again, specialists at a well-resourced business computer rental firm with expertise in providing disaster recovery services can assist in providing, configuring and setting up a backup computer network to test how your firm will be able to respond to a business disruption. A dry run of your business continuity plan will reveal any holes or oversights in your planning, and will allow you to further refine the model of how your business would cope with a sudden emergency that might otherwise force you to suspend or terminate operations.

In good times and in hard times it is always good to try to get the best bang for your buck no matter where you are. There are many ways to reduce costs in order to ride out the current economic storm. One way to cut cost is by purchasing very cheap auto insurance. In fact, more people have started looking for Newark cheap car insurance quotes since the economy took a turn for the worst.

The internet is the best place to look for Newark cheap car insurance quotes. There are many offers from insurance companies competing for clients. This is a good time as any to get cheap car insurance because these deals give you value for money. Many insurance companies have online forms to make it easier for customers to apply for policies. Customers can now select the kind of package they like and customize it further to suit their needs and budget. It is just a matter of filling in your name and selecting the appropriate check box. It is that easy.

Those looking for bargains should also be on the look out for special packages that target niche markets. Just type in cheap car insurance for young driver and you can see for yourself. There are special packages for women that will enable them to save a bundle on premiums. This is because statistically women make fewer claims than men. This could be due to the fact that they are involved in fewer accidents than men, contrary to popular belief.

Young drivers or teens with good school records can also look forward to policies with lower premiums from some insurers. Insurance for young drivers still costs more than the ones for more mature drivers but by practicing a few smart habits, you can save a bit on premiums. This is because some insurance companies consider young drivers with good grades as low risk clients. In other words teens with good grades in school are less likely to drive recklessly and be involved in accidents. It also pays to have a spotless driving record as that would be a real testament to a persons character as a driver.

You can also try bundling your car insurance with another policy, vacant homeowners insurance for instance to get a better overall deal.

When searching for Newark cheap car insurance quotes, always to look a little deeper for special offers and see if you qualify for any of the promotions. It is also wise to compare at least 3 Newark cheap car insurance quotes to make sure you settle only on the best possible deal. Comparing policies can sometimes save you up to 1000 dollars.

As more Tampa and Brandon professionals increase the number of email marketing programs due to their slim advertising budgets in 2009, it is vital to know which statistics one should monitor and how doing so can help future email marketing efforts. Most email marketers today watch metrics that are directly related to their particular email marketing objectives. For example, if you are broadcasting HTML emails to potential clients you may utilize open rates as a metric of your campaign’s achievement. Other metrics which may help your email marketing efforts moving forward include: open rates for each day and time, click-through rates and goal conversions.

As a Brandon or Tampa business in the development phases of an email marketing campaign, would you be interested in learning what kind of open rates other email marketers are receiving? According to popular email marketing services provider Aweber, the average open rate within their network for April 2008 was 13.6%. Do keep in mind that this figure may not be relevant or a realistic percentage for your particular industry, nevertheless if your open rate is below this number do not feel discouraged. What you should take out of this number is simple, if your open rate increases over a short period of time than more prospects are reading your emails and vice a versa. The next metric related to open rates which may be of great value to your Tampa email marketing campaigns include the day and time of your email messages.

Do you know what day and time has brought your email marketing campaigns the highest success rate? Most email marketers will quickly answer “Tuesday, Tuesday, Tuesday”. Well, this may be true for many email marketers in the industry. The truth of the matter is that each of our email marketing campaigns or email marketing clients have a distinct message to offer a unique audience. So what functions for audience #1, may not work for audience #2. To have a better idea, simply test your broadcast audience and track your statistics for each campaign. Within a few broadcasts, you will quickly find what works best for you and your particular audience.

In addition to monitoring your email marketing data, you may also want to ask your Brandon email subscribers or prospects to add you to their contacts list or “whitelist”. This will help you to improve the response of your email marketing campaigns.

If you’re a Tampa or Brandon company utilizing email marketing and would like to learn how email marketing may help you gather more leads, increase service total sales and brand awareness, simply register for Spotlight Creation’s free informational e-newsletter.