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Agri-food Management Institute and Farm Management Canada partner to deliver Risk Management Toolkit

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

The toolkit is a digital 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.

“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 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 email carolyn@takeanewapproach.ca.

For a copy of the Comprehensive Guide, contact FMC Project Manager Mathieu Lipari by emailing mathieu@fmc-gac.com.