Total Cost of Risk
What is it, and why do I care? Part One “What gets measured… gets managed!” This statement is the fundamental principle behind the concept of “Total Cost of Risk” (TCoR), and I’ve been saying this for years. The question that I am asked all the time is, “what is TCoR and why do I care about it?” There is risk associated with everything we do in life. In today’s world, business risk and the ability to quantify that risk in dollars is increasingly important. The purpose of any risk management program is to manage enterprise wide risks, which will ultimately lead to a reduction of the total costs associated with these
The ALS Group
August 31, 2009
