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19 Examples of Risk Control

 , updated on April 17, 2017
A risk control is an operational process, system, policy or procedure designed to reduce risk. The following are common examples.

Inspections

Infrastructure risks are reduced with a process of regular inspections.

Maintenance

The risk of equipment failure on a production line is reduced by performing regular maintenance according to a predefined schedule.

Testing

The risk of a damaging fire at a facility is reduced by testing fire detectors every six months.

Due Diligence

Credit risk is reduced by carefully validating the facts in a client's credit application.

Automation

An information security risk is reduced by emailing a client each time their bank account is accessed online from a new IP address.

Systems

Transportation safety risks are reduced with a collision avoidance system built into high speed trains.

System Validation

The risk of human error in financial trading is reduced by implementing system validations. For example, a trading application might check that a limit price is makes sense relative to the market price.

Physical

Implementation of physical controls such as a rain garden that reduces flood risks.

Engineering Controls

A machine is designed to automatically shutdown when something is wrong to reduce safety risks.

Audits

Financial risks such as inherent risk are reduced with regular audits by an independent auditor.

Backups

Data loss risks are reduced by taking regular backups that are stored in different physical locations.

Policies

Safety risks can be reduced by enforcing a policy that requires proper safety gear to be worn at work sites.

Communication

The risk of disputes with neighbors of a construction site can be reduced with a process of communication to keep neighbors engaged and informed.

Redundancy

The risk of equipment failure is reduced by maintaining a backup.

Training

The risk of customer service failures is reduced with soft skills training for customer facing staff.

Change Management

The risk of scope creep is controlled with a formal system for submitting, reviewing, approving and scheduling changes to a project.

Planning

The risk of benefit shortfall is reduced by requiring all projects to produce and approve a business plan.

Quality

The risk of poor reviews of a new product is reduced with a quality control process that tests each unit before it goes out the door.

Escalation

The risk of project failure is reduced with a process of quickly escalating issues to executives who have authority to make the decisions required to clear issues.
Overview: Risk Control
Type
Definition
An operational process, system, policy or procedure designed to reduce risk
Related Concepts

Risk Management

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Contingency Plan
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Risk Treatment
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Risk-Reward Ratio
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An overview of the risk management process.

Cascading Failure vs Resilience

An overview of cascading failure and resilience.

Business As Usual

An overview of business as usual.

Risk Mitigation

A list of techniques for reducing risk.

Risk Mitigation vs Risk Reduction

The difference between risk mitigation and risk reduction.

Risk Control

A list of common risk controls.

Risk Value

A definition of risk value with example calculation.

Risk Impact

The common types of risk impact.

Risk Communication

A definition of risk communication with examples.

Risk Management Process

Overview of the steps in a risk management process.

Business Risks

A list of common business risks.

Risk Treatment

The five things that can be done about risk.

Risk Management Effectiveness

A metric for measuring risk management.

Positive Risk

The potential that you'll achieve too much of a good thing.

Dread Risk

Any risk that people have a strong aversion too.

Risk Taking

The definition of risk taking with examples.

Risk Examples

A list of risk examples by type.

Risk Probability vs Risk Impact

The two main factors in modeling a risk.

Calculated Risk

A definition of calculated risk with an example.

Relative Risk

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