What is Risk Management and why is it so important?

In XR a 'Risk' is the chance of a negative occurrenceevent happening that could damangedamanging or threatenthreatening the existence of XRUK.

Thinking about risks,risks thenand taking the appropriate steps,action reduces their likelihood and/orand impact. ItThis providesgives you time and space to understand a risk and to plan how to address it should it happen. ItYou will also helpsbecome to raise awarenessaware of serious and common risks that may exist across many XRUK circles. ItThis isdoes NOTnot aboutmean stoppingyou stop all activities or actions which carry risk.

Risk Management is a set of techniques available for circlesyour circle to flush out, prioritise, and plan for threats in achieving its mandate. It helps youYou prepare for the unexpected and to sleep at night. RisksIf thatyou aredon't notcontrol identifiedyour risks they tend to fester, get worse over time and become harder to manage.

SomeCircles circlescarrying withinpotentially XRUK are more critical to the continued existence or purpose of XRUK than others. Goodhigh risk management is especially important for these circles.

The most critical circles will be encouraged (by the Risk circle)circle to record and assess their risks, then share them with the Risk circle so that risks important to XRUKthey can be understood and addressed.