Greenhouse Canada

Business Management
Risk Management Toolkit available to farmers


November 21, 2014
By Dave Harrison


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Nov. 21, 2014, Winnipeg  — The Agri-food Management Institute (AMI), in partnership with Farm Management Canada (FMC), launched a toolkit today to help farmers identify and manage business risks.

 “Regular business assessment paves the way for strong, efficient operations,” says AMI Executive Director Ryan Koeslag. “This toolkit heightens farmer awareness of risks and lays the foundation for a farm contingency plan that works towards their business goals.”
 
The digital toolkit is a complimentary resource that supports farmers using FMC’s Comprehensive Guide to Managing Risk in Agriculture. The guide, which provides an in-depth review of risk management practices and the toolkit, which offers a simplified, hands-on process for farmers to implement the guide’s concepts, were jointly released at FMC’s Agricultural Excellence Conference in Winnipeg.
 
The toolkit features a Risk Assessment Spreadsheet, which evaluates risk by assigning scores to key areas of business based the frequency of risk, magnitude of risk, and preparedness for managing risk. Once the assessment is completed, a Risk Priority Matrix is generated to visually identify high priority risks within the operation, and gauges the farmer’s level of preparedness for each.
 
The toolkit also contains a Risk Management Action Plan Template to record risks that need attention and identify actions for managing them. A list of next steps and links to beneficial resources, like AMI’s Business Score Card tool that measures current management practices to help you plan for the future, is also included.
 
To receive a copy of the toolkit, contact AMI’s Project Coordinator Carolyn Dowling at 519-822-6618 or carolyn@takeanewapproach.ca. For a copy of the Comprehensive Guide, contact FMC Project Manager Mathieu Lipari by emailing mathieu@fmc-gac.com.
 
ABOUT THE AGRI-FOOD MANAGEMENT INSTITUTE

The Agri-food Management Institute (AMI) promotes new ways of thinking about agribusiness management and aims to increase awareness, understanding and adoption of beneficial business management practices by Ontario agri-food and agri-business producers and processors. Learn more at www.takeanewapproach.ca.

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