Risk management

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Risk management

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12_BUSINESS RISK ufuhf isbifb MANAGEMENT.ppt

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MODULE 1: Definition of Risk and uncertainty- Classification of Risk, Sources of Risk-external and internal. Risk Management-nature, risk analysis, planning, control and transfer of risk, Administration of properties of an enterprise, provision of adequate security arrangements. Interface between Risk and Insurance- Risk identification, evaluation and management techniques, Risk avoidance, Retention and transfer, Selecti9on and implementation of Techniques. Various terminology, perils, clauses and risk covers.

Chapter 1 - Risk Management - 2nd Semester - M.Com - Bangalore University

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The webinar covers: • Overview of ISO 31000 and how this standard implies threats but opportunities as well • Risk-based thinking as an integral part of ISO 9001:2015 and ISO 14001:2015 • Principles, processes and framework of ISO 31000 • How organizations can reduce uncertainty, seize opportunities and treat risks Presenter: This session will be presented by PECB Trainer Jacob McLean, Principal Consultant and Managing Director of Kaizen Training & Management Consultants Limited. Link of the recorded session published on YouTube: https://youtu.be/MVBMM6X3Vgw

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Abstract Key Features Assessment Introduction Measures Figure 1. This is the Risk Assessment Matrix Chart on the basis of the overall scenario (continued) Discussion Figure1. The overall scenario of Risk management analysis on basis of survey and guidelines : Safety of Risk Management Risk management is an activity which integrates recognition of risk, risk assessment, developing strategies to manage it, and mitigation of risk using managerial resources. Some traditional risk managements are focused on risks stemming from physical or legal causes (e.g. natural disasters or fires, accidents, death). Financial risk management, on the other hand, focuses on risks that can be managed using traded financial instruments. Objective of risk management is to reduce different risks related to a pre-selected domain to an acceptable. It may refer to numerous types of threats caused by environment, technology, humans, organizations and politics. The paper describes the different steps in the risk management process which methods are used in the different steps, and provides some examples for risk and safety management. The risk management steps are: 1. Establishing goals and context , 2. Identifying risks, 3. Analysing the identified risks, 4. Assessing or evaluating the risks, 5. Treating or managing the risks, 6. Monitoring and reviewing the risks and the risk environment regularly, and 7. Continuously communicating, consulting with stakeholders and reporting. Some of the risk management tools are described in (IEC 2008) and (Oehmen 2005). As per discussed about the overall visualisation of safety risk management we can conclude by the stated figure about the outcome of the risk factor in different zone or field of work . The common concept in all definitions is uncertainty of outcomes. Where they differ is in how they characterize outcomes. Some describe risk as having only adverse consequences, while others are neutral. One description of risk is the following: risk refers to the uncertainty that surrounds future events and outcomes. It is the expression of the likelihood and impact of an event with the potential to influence the achievement of an organization's objectives. The phrase "the expression of the likelihood and impact of an event" implies that, as a minimum, some form of quantitative or qualitative analysis is required for making decisions concerning major risks or threats to the achievement of an organization's objectives. For each risk, two calculations are required: its likelihood or probability; and the extent of the impact or consequences. Establish goals and context:- The purpose of this stage of planning enables to understand the environment in which the respective organization operates, that means to thoroughly understand the external environment and the internal culture of the organization. Identify the risks :- Using the information gained from the context, particularly as cat.

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