SAN DIEGO - Risk mapping can help identify a company's exposures, determine the interrelationships among those risks and aid in determining which risks to mitigate or transfer, two risk managers say.
Risk mapping is a relatively new tool and an effective preliminary step for integrating a corporate risk management strategy, said James D. Noble, director of corporate risk management and insurance for Colgate-Palmolive Co. in New York.
Risk mapping also can heighten management's awareness of an organization's risks, identify inconsistencies in an overall approach to risk, and allow the adjustment of costs and profitability-based risk measurement.
Mr. Noble, with the help of about 30 consultants …
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