Abstract
Risk Navigator SRM is a ten‐step risk management program for agricultural producers, which is based on the strategic planning process. The ten steps are designed to integrate disparate and difficult risk management concepts into a single system that is easy to use, yet still effective. With the aid of computers and the internet, producers can work through each step toward a final comprehensive plan. The website includes 25 decision tools that help producers accomplish each step and provides links to complementary educational programs, like a national agricultural risk education library, the award‐winning risk management simulation program called Ag Survivor, and a recently published book that describes the program and provides additional depth and explanations. The ten‐step program has been presented in over 200 workshops with over 90 percent approval by participants. The website has averaged over 1,000 unique visitors per month from 120 countries.
Highlights
Risk Navigator SRM is a ten-step risk management program for agricultural producers, which is based on the strategic planning process
Risk Navigator SRM integrates risk management techniques into one place and provides farmers and ranchers the resources to use the products from their home office
We find that the difference between this and other programs designed to manage risk is the integration of basic risk management principles into a structured and easy to learn format
Summary
Risk management technology has drastically outpaced the ability of most practitioners to adopt innovations. A 2007 study 10 showed that older producers had less knowledge about risk management tools, compared to younger producers, and had less interest in learning more about them This supports the Farm Futures survey 3 in that many producers view the human capital investment required to learn how to properly incorporate the use of risk management tools into their operation as significant. The purpose of this manuscript is to describe a new framework for risk management called Risk Navigator SRM. That balance in Risk Navigator SRM is based on interaction with producers at over 200 meetings in over a dozen states This includes a description of supporting software tools made available by website. We provide examples of the computer tools available to help producers with each step where appropriate
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