What is Risk Management?
Human Activity which integrates:
1. Recognition of Risks
2.Risk Assessment
3. Developing strateg...
Strategies
Transfering the risk to another party.
Avoiding the risk.
Reducing the negative effect of the risk.
Accepti...
Traditional Risk Managements
Stemming from physical or legal causes such as:
1. Natural disasters
2.Fires
3. Accidents
4....
Ideal Risk Management
A priorization process.
Risks with the greatest loss and the greatest
profitability are handled fi...
Objective of risk Management
Reduce different risks related to a preselected domain
to the level accepted by society.
It...
Intangible and Relationship Risks
Risk that has a 100% probability of occuring but is
ignored by the organization due to ...
Steps in the Risk Management
Process
1. Identification of risk in a selected domain of
interest.
2. Planning the remainder...
Exercise
Risk avoidance
Risk Reduction
Risk Transfer
Risk Mitigation plan
Implementation
Exercise
Risk avoidance
Risk Reduction
Risk Transfer
Risk Mitigation plan
Implementation
Risk management
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Risk management

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Risk management

  1. 1. What is Risk Management? Human Activity which integrates: 1. Recognition of Risks 2.Risk Assessment 3. Developing strategies to manage it 4.Mitigation of risk using managerial resources.
  2. 2. Strategies Transfering the risk to another party. Avoiding the risk. Reducing the negative effect of the risk. Accepting some or all of the consequences of a particular risk.
  3. 3. Traditional Risk Managements Stemming from physical or legal causes such as: 1. Natural disasters 2.Fires 3. Accidents 4.Death 5.Lawsuits
  4. 4. Ideal Risk Management A priorization process. Risks with the greatest loss and the greatest profitability are handled first. Risks with lower probability of occurence and lower loss are handled in descending order.
  5. 5. Objective of risk Management Reduce different risks related to a preselected domain to the level accepted by society. It may refer to numerous types of threaths caused by the environment, technology, humans, organizations and politics.
  6. 6. Intangible and Relationship Risks Risk that has a 100% probability of occuring but is ignored by the organization due to a lack of identification ability. Appears when ineffective collaboration occurs.
  7. 7. Steps in the Risk Management Process 1. Identification of risk in a selected domain of interest. 2. Planning the remainder of the process. 3. Mapping out. 4. Defining a framework for the activity and an agenda for identification 5. Developing an analysis of risk involved in the process 6. Mitigation of risks using different resources.
  8. 8. Exercise Risk avoidance Risk Reduction Risk Transfer Risk Mitigation plan Implementation
  9. 9. Exercise Risk avoidance Risk Reduction Risk Transfer Risk Mitigation plan Implementation

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