When we raised questions, we answered them. Here, we begin to delve into risk management. There will be fewer concrete answers with this subject. In fact, different aquaculturists will have differing opinions and needs. As a starting point, this column lays groundwork and explains many of the terms that are a necessary part of the discussion.
Risk management is defined as the organized treatment of loss exposures.
The premise is that losses can be managed by using planning and precaution. Identify the loss exposures. Select techniques to address the loss exposures Implement the techniques chosen. Monitor the plan and update as needed. Loss Exposures Loss exposures are any of the situations that present a chance of loss in your business.