Evaluating risk management alternatives can be challenging, especially without the right tools. The RightRisk Team has been working for nearly 20 years to develop the right tools to assist managers of agricultural operations to make the best decisions, even when the information at hand is incomplete or difficult to interpret. Each tool includes a written guide to help get started. Some have dedicated online courses or videos outlining their use and application. This online presentation will explore the tools currently available and the general approach followed for each.

Access the presentation at: RightRisk.org\presentations (22 mins.)

RightRisk Analytics is a toolbox filled with over 30 individual risk analysis tools developed by RightRisk and available free of charge at: RightRisk.org\Analytics.

 
A full-color, 250-page book presenting principles, practical examples, legal considerations, and leads to more references in six main chapters: 1. Roles and Responsibilities of an Agricultural Employer, 2. Organizational Planning, 3. Staffing the Farm Business, 4. Supervising Agricultural Work, 5. Managing Employee Performance, 6. Communication and Problem Solving. The companion website, provides supplementary material online, as well as Problem Work Situations: Working With Employees – a series of nine sets of brief vignettes that illustrate approaches to one-on-one communication in problem situations.

See Ag Help Wanted online or to order a copy at: RightRisk.org\AgHelpWanted.

 
LEASING or renting pasture or forage is commonplace for many livestock producers. The Forage Risk Analyzer tool, from RightRisk.org, is a tool designed to help a single or multiple parties (up to six) understand the full value of everything involved in a potential lease and formulate a more fair and equitable agreement. For examples using the tool see Applied Risk Analytics “Evaluating Lease Arrangements” at RightRisk.org\AppliedRiskAnalytics

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.

 
AG SURVIVOR risk simulation is a software tool developed to teach risk concepts and management strategies to agricultural managers in an experiential learning environment. This educational program lets participants test firsthand whether they are better off implementing newly learned risk management tools and strategies, like the Strategic Risk Management Process. . . .

Access the free online risk simulation AG SURVIVOR from RightRisk at: RightRisk.org > Resources.

 
LIVESTOCK RISK PROTECTION (LRP) insurance is designed to help manage livestock market price risk. The Risk Scenario Planning tool can, with a little creativity, be used to analyze expected net revenue under an LRP policy. The resulting cumulative distribution graph provides the probability of earning a net return at or below any certain value. With this information in hand we can begin to answer questions like: “How effective is this coverage?” or “How often would it pay?” See the RSP Guide for this and other examples.

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

 
PUBLICATIONS available online from RightRisk include: Risk Management Profiles that outline various risks or management decisions faced by example operations and a description of the tools and strategies they use to address the risk. Applied Risk Analytics describe the application of RightRisk Analytics tools to evaluate risk alternatives for example operations. Risk Concepts offer an overview of various organizational structures comparing each across 7 alternative criteria.

RightRisk Online Publications are available free of charge at: RightRisk.org > Resources.

 
RISK NAVIGATOR and associated Strategic Risk Management Process outline a 10-step risk management program. A self-guided Strategic Risk Management 101 course is available on the companion website. In addition, the Risk Navigator tool box offers an extensive risk management library of over 20 risk tools. The tools help to accomplish the planning and analysis needed to complete each step of the Strategic Risk Management Process.

Risk Navigator tools are available for download, free of charge at: RightRisk.org\RiskNavigator.

 
RightRisk.org hosts the risk management education products developed by the RightRisk Education Team, including 14 free, online self-study courses, covering a range of topics: from Understanding Risk, to Evaluating Risk Strategies, Record Keeping, Financial Statements, Evaluating Financial Performance, to Risk Scenario Planning. The site also offers links to other online resources, and much, much more . . .

Courses in Risk Management are available free of charge at: RightRisk.org > Courses.

 
RDFinancial is a risk analysis tool designed to help understand financial statements and how they interact to provide a measure of financial business position and performance. The primary purpose is to provide opportunities to discuss financial analysis in an easy to use and understand format. Online video and audio clips provide an overview of RDFinancial and several examples of how to use RDFinancial to illustrate financial management concepts.

RDFinancial tool is one of over 30 individual risk analysis tools developed by RightRisk and available free of charge at:RightRisk.org > Analytics.

 
Corporations (C Corporation) are probably the form of business entity which comes most readily to mind for most people. They are formed by filing articles of incorporation with the appropriate state officials. The equity owners of a corporation are called shareholders who, in their capacity as shareholders, have only very basic voting rights. They elect the managers of the corporation (called directors), are entitled to vote on most decisions that would require an amendment to the articles of incorporation, and must approve certain fundamental transactions involving a change in structure of the corporation.

Learn more via the recently completed 4-page, 4-color RISK CONCEPTS series, covering seven common forms of business ownership, including the Corporation.

Several RISK CONCEPTS bulletins covering alternative forms of business structure were recently posted and are available for download at: RightRisk.org/riskconcepts.