OP Partners USA

What is operational risk?

Operational risk is the chance that day-to-day operations fail due to people, process, systems, or external events. For small teams, the goal is not perfection — it’s reducing avoidable surprises.

Common operational risks (small business)

• Single points of failure: only one person knows how something works
• Weak access control: shared passwords, no MFA, no offboarding process
• Unclear vendor responsibilities: nobody owns the relationship internally
• Data loss: backups not tested, export processes unknown
• Cost surprises: renewals, add-ons, and usage-based fees

Lightweight controls that help

• Document “how to run it” in one page per system (login, owner, renewal)
• Use MFA on key accounts and enforce role-based access
• Keep a vendor register (owner, renewal date, contract location)
• Test exports/backups at least quarterly

Mini vendor register (example)

Next step

If you’re evaluating a vendor right now, use the vendor evaluation checklist to structure your decision.