When it comes to risk analysis, perceptions are everything.
Studies show that the more vague or ambiguous the understanding of all the elements in a risk management situation, the more likely decision makers are to base their decisions on emotion or instinct, rather than fact or analysis. For that reason, when evaluating risk, it is essential to follow a systematic assessment and analysis process in order to arrive at a proper risk management strategy.
Once you've analyzed your risk situation, you'll need to
consider the best strategy for managing that risk.
Adapted from Assessing Risk in Production Agriculture, Centrec Consulting Group, 2010
Submitted by Elizabeth Yeager and Mike Boehlje
403 W. State Street, West Lafayette,
IN 47907-2056, (765) 494-7004
©2015 Indiana Soybean Alliance®
Funded with Indiana soybean checkoff dollars.