Updated: Jan 15, 2019
There is never enough time, knowledge, or resources to contend with all the risks that a company faces. Therefore, they must choose which risks to address. This is not easy and cannot always be determined by ranking based on risk scores. To know which risks are important you first need to have clearly defined outcomes and objectives. This is because the risks that matter are connected to them. Unless you know what outcomes/objectives you are targeting, you cannot improve, you cannot know what changes will hinder or advance yours goals, and you cannot know which risks really matter.