Risk Management Strategies Every Organization Should Revisit This Year

If you run a business, you’ve probably had a moment this year where you asked—are we really ready for everything that could go wrong? It’s not an easy question to answer. Risks aren’t what they used to be. From cyberattacks to severe weather events and unexpected supply chain issues, what used to be low-risk can quickly move to the top of your list.

That’s why now is a good time to pause, take stock, and see where your current risk management plan stands. Here are some strategies every organization should revisit before problems knock on the door.

Getting the Basics Right: People, Policies, and Preparedness

Let’s be honest. Sometimes the most obvious things are the first to slip through the cracks. Risk management doesn’t always need to be high-tech. It often starts with the basics: people, clear roles, and up-to-date policies.

When was the last time your team reviewed your emergency procedures? Do new hires get risk training, or is it something they’ll “pick up eventually”? These are small details that add up quickly during a crisis.

Another area worth revisiting is your internal policy framework. Are your documents current? Are they easy to find and even easier to understand? If policies are buried in a shared drive or written in legalese, chances are they won’t be followed when it matters most.

The professionals who manage these systems often rely on more than just instinct. Formal education plays a role here, too. People with a bachelor degree in security tend to bring a well-rounded perspective. They’re trained not only to write policies but also to apply them effectively under pressure. It’s this mix of academic foundation and practical insight that makes them assets to any risk team.

Reviewing Your Risk Register and Business Continuity Plan

Your risk register isn’t a “set it and forget it” document. It’s supposed to grow and evolve with your business. Unfortunately, many organizations let their risk register go stale. Threats from even two years ago may look completely different now.

Take hybrid work models. If your risk register doesn’t mention remote access vulnerabilities or home office safety issues, that’s a problem. Or consider climate risks—are you prepared for how a flood, heatwave, or wildfire could affect your operations?

Business continuity planning also deserves fresh eyes. Does your plan reflect the current team structure? Are contact lists and vendor details up to date? When disaster strikes, outdated plans only add to the chaos.

Schedule time each quarter to review these plans. Don’t just skim—ask what’s missing and what no longer applies.

Making Cybersecurity Part of Your Risk Culture

Cybersecurity isn’t just the IT department’s problem anymore. It affects every employee, every process, and every decision. It’s not enough to install antivirus software or update your firewall. You need a culture where cyber risks are part of regular conversations.

Start with training. Employees should know how to spot phishing emails, avoid unsafe downloads, and create strong passwords. These aren’t just IT tasks—they’re basic workplace responsibilities.

Next, review how your company handles sensitive data. Is it encrypted? Who has access? Are backups stored securely? And if a breach happens, is your response plan clear and quick?

Cyber risks evolve fast. What worked last year might not hold up today. Make sure your risk strategy keeps pace.

Vendor and Third-Party Risk: Look Beyond the Contract

Working with outside vendors comes with its own set of risks. While contracts might cover things like service levels and delivery dates, they don’t always address what happens if that vendor experiences a data breach or shuts down unexpectedly.

Take a closer look at your third-party relationships. When was the last time you evaluated your vendors’ security practices? Do they conduct their own risk assessments? Are they compliant with current laws?

Third-party risk should be monitored regularly, not just when a new partnership begins. Ask vendors for proof of their security protocols. Have a backup plan in case one fails. And don’t rely on paperwork alone—verify with real checks when you can.

Physical Security Isn’t Old-School—It’s Still Critical

It’s easy to focus on digital threats and forget about the physical ones. But unauthorized access, theft, and workplace violence are still very real risks.

Start by checking your access controls. Who has keys, keycards, or codes to your facility? When people leave the company, are their credentials removed immediately?

Visitor logs, surveillance systems, and on-site security should all be part of your plan, especially if your organization handles sensitive information or high-value goods.

Also, don’t let your physical and digital teams operate in separate silos. Coordinate plans to make sure security is strong on all fronts.

Risk Communication: Are You Saying the Right Things at the Right Time?

When something goes wrong, communication is everything. Whether it’s a data breach or a supply chain delay, people need clear, honest updates fast.

Start with internal messaging. Who sends the first alert? How does leadership stay informed? Are employees told what steps to take next?

Then consider your external messaging. If the public or media are involved, do you have a spokesperson ready? Are statements pre-drafted and approved, or are you writing them in a panic?

Good communication reduces confusion and protects your reputation. Practice it often, not just when a crisis happens.

Measuring What Matters: KPIs and Risk Reporting

It’s not enough to list your risks—you need to track how you’re handling them. That’s where KPIs come in.

Useful metrics include how many risks were identified and resolved, how quickly incidents were contained, and what financial impact was avoided or absorbed. These numbers help leadership understand what’s working and where to invest more resources.

Reporting should happen regularly. Don’t wait for an annual audit to take a closer look. Monthly or quarterly reports keep risk top of mind and allow for quicker course corrections.

Risk management isn’t just about avoiding disaster—it’s about staying ready, flexible, and informed. As new threats emerge and business models shift, your strategies should grow with them.

You don’t have to tear everything down and start over. Sometimes, all it takes is a focused look at the basics, some updates to your plans, and a few smart conversations across departments. These small moves can make a big difference.

If you haven’t reviewed your risk plan in a while, now’s the time. Being ready today could be the reason you bounce back tomorrow.