RISK management strategies are generally designed to do one of four things: 1. avoid the risk; 2. transfer the risk outside the business; 3. control the risk within the business or 4. accept the risk as a part of doing business.

One of the main benefits of a strategy is that it forces you to identify what you are trying to accomplish, to think about how you will measure progress, and how you will evaluate how well the strategy is working overall.

Results are important, but even good risk management strategies don’t come with guarantees. Strategies can fail for a number of reasons. Sadly, one of the most common reasons strategies fail is the lack of commitment to the strategy across time.

The Evaluating Risk Strategies course is available free of charge at: RightRisk > Courses.

 
MOST of today’s farms and ranches involve more than one enterprise. Production risk spread over several enterprises often contributes to their financial successes. Enterprise risk analysis – estimating net returns for an enterprise and the variability in those returns (risk) – is an often-neglected, but necessary part of developing an overall risk management strategy.

The Enterprise Risk Analyzer tool was developed to help the livestock owner and the land owner understand all the contributions each of them have made to their livestock grazing lease arrangement. It can be used to help design a fair and equitable lease between two parties. It can also be used by a single party to better understand the full set of components that contribute value to their forage resource.

The Enterprise Risk Analyzer via RightRisk Analytics tool is one of over 30 individual risk analysis tools developed by RightRisk and available free of charge at:RightRisk.org\Analytics.

 
AG in Uncertain Times uses current technologies to assemble panels of speakers addressing major risk topic areas. The team utilizes evolving and recently available technologies to optimize the impact and reach of AIUT programming efforts. Starting in 2009, 30 English and 5 Spanish webinars featuring 133 individual presentations have been offered by a roster of nationally-recognized speakers. Recordings, podcasts (MP3), handouts, links and much more for every program offered are available on the site at no charge.

LEARN MORE or view materials at the Ag in Uncertain Times website: AgInUncertainTimes.FarmManagement.org.

 
THE Forage Risk Analyzer tool was developed to help the livestock owner and the land owner understand all the contributions each of them have made to their livestock grazing lease arrangement. It can be used to help design a fair and equitable lease between two parties. It can also be used by a single party to better understand the full set of components that contribute value to their forage resource.

The Forage Risk Analyzer tool is one of over 30 individual risk analysis tools developed by RightRisk and available free of charge at:RightRisk.org\Analytics.

 
Many farmers, ranchers, and other agricultural producers often hire YOUTH to perform labor or services in return for wages or other remuneration. The federal child labor provisions, authorized by the Fair Labor Standards Act (FLSA) of 1938, also known as the child labor laws, were enacted to ensure that when young people work, the work is safe and does not jeopardize their health, well-being, nor educational opportunities. The FLSA establishes minimum ages for covered employment in agriculture, unless a specific exemption applies.
     Learn more via the 4-page, 4-color Ag Help Wanted UPDATE: ¿Cuáles son los reglamentos Estado Unidenses para el trabajo de menores en agricultura?

Ag Help Wanted updates are available for download at: AgHelpWanted.org\Updates.

 
THE Risk Scenario Planning tool provides a template for decision-makers to enter the financial effects of making proposed change(s) to their operation. It then adds the ability for the decision-maker to further refine estimates for input values as uncertain numbers. This produces a more robust analysis of the proposed change and a more thorough understanding of the possible outcomes if the change is implemented.

The Risk Scenario Planning tool tool is one of over 30 individual risk analysis tools developed by RightRisk and available free of charge at:RightRisk.org\Analytics.

 
Tax issues are important for agricultural operations because income and self-employment taxes are a major cost and also because more and more USDA programs are linked to a producer’s federal income tax return.

Learn more about taxes and implications for agricultural businesses at: RuralTax.org/library.