Risk Assessment and Management
Within the internationally recognized field of agricultural risk assessment and management, risks can be evaluated according to three basic criteria :
- Impact: In other words, how severe will the risk event be if it actually happens? Some risks can destroy the whole year's farm income and even destroy assets; other risks are milder in impact.
- Likelihood: How likely is this risk to come about? Some risks are rare and unpredictable, others are more likely to happen.
- Manageability: Independent of how severe or how likely a risk is, some risks are out of the control of the farmer, others can be handled to a large or small degree. It makes sense to prioritize scarce resources on risks which can actually be managed.
- Provided by Steve Hodges - African Agriculture Risk Management Services Within the internationally recognized field of agricultural risk assessment and management, risks can be evaluated according to three basic criteria : Impact: In other words, how severe will the risk event be if it actually...
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- Also available in:
- Español (es)
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- Also available in:
- Español (es)
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- Also available in:
- Español (es)
- Français (fr)
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