The UWEX Risk Management Team, through the development and implementation of educational programs and partnerships, will foster a program that will make agricultural producers and agribusiness aware of, able to evaluate and manage risk in such a way as to meet their family and business goals. The mission statement lays out several key components of the team s efforts. 1. increased awareness of risk factors faced in agriculture 2. improved ability to evaluate and prioritize risk factors 3. Second, the measuring stick by with risk management decisions are evaluated is via their impact on the financial health of the business and other farm business and family goals. Third, the development and delivery of risk management materials is to be accomplished through partnerships with private, nonprofit, and other public organizations.
Risk management is an all encompassing term that can stretch about as far as the user wishes.
The USDA Risk Management Agency has categorized five main areas of risk faced by agricultural producers - financial, marketing, production, legal, and human resources. The figure below illustrates these and other areas of risk and the fact that these risk need to be assessed through the rubric of the financial health of the business and other family and farm business goals. The goal of the Risk Management Team is to provide materials and methods of delivery that will provide the opportunity for the participant to become aware of the risks they face, have the tools and skills for evaluating the impact of those risks, have the tools and skills for prioritizing risks, and have the tools and skills for managing those risks. The UWEX risk management curriculum shall, through research based and comprehensive educational program packages, progress Wisconsin agricultural producers and agribusinesses to higher levels of competency in making informed risk management decisions. 3. be research based 4. be developed via a collaborative effort with private sector partners in content, education method, material construction, and delivery.