At PrimoWords, we manage the risks before they get a chance to materialize. We have a carefully designed risk management plan with 4 elemental steps:
- Risk assessment: During this step, we identify, describe, estimate and evaluate the risks.
- Internal risk reporting and communication: Risks are reported to higher level decision makers.
- Risk treatment: In this step, risks are treated based on an established set of criteria. Risk treatment includes avoidance, mitigation, transfer and retention.
- Risk management monitoring and review: This ensures that risks are effectively identified and assessed and that appropriate controls and responses are in place. It also ensures that our risk management plan is updated and in consistent with the current translation market.
Are you interested in the idea of risk management in translation? You can read more on this topic here: Risk Management in Translation.