Risk Management will necessary Management activities in every business concern or organizations, if one organization conduct the efficient risk management activities then only possible to achieving the pre-planned objectives or goals.

1. University of Mysore
Dos In Commerce
Subject: Insurance Management
Topic: Aims of Risk Management
23/09/2014

2. Contents….
Introduction of RiskManagement
Meaning of RiskManagement
Aims of riskmanagement
Benefits of good RiskManagement
Conclusion
Reference

3. Introduction of Risk Management
Risk management forms an integral part of meeting our strategic aims and
objectives. The Institute is exposed to various risks, which are either insured or
uninsured, depending on the specific objectives being performed while
fulfilling the organizational Mission or objectives. organizations goal is to
identify the risks and determine the risk, if they may be avoided, reduced,
spread, transferred or prevented. Having recognized the need, and taken the
responsibility to preserve the organization or Institute's resources.

4. Meaning of Risk Management
Risk Management is the process by which significant risks are identified, evaluated and
controlled. It is about making the most of opportunities, making the right decisions and
achieving Pre-determined objectives once those decisions are made. This is achieved
through avoiding risk, transferring risks, controlling risks, and living with risk.
Risk management is a process that identifies loss exposures faced by an organization and
select the most appropriate techniques or solutions for treating such exposures.

5. Aims of risk management
Risk is the threat (a threat is an act where in is proposed to elicit or reaction a negative
response) that an event or action will adversely affect the organization’s ability to achieve
its objectives and to successfully execute its strategies.
Good and effective Risk Management supports the achievement of corporate and
operational objectives and has a crucial role to play in ensuring the effective running of
the Business Concerns or organization.
Some of the followings Aims should be fixed from the any organization ……

6. Aims of risk management
 Corporate Governance :
 Structures and processes
 Standards or code of conduct :
 Service Delivery Arrangements
 Effective use of resources

7. BENEFITS OF GOOD RISK MANAGEMENT
Good and effective Risk Management supports the achievement of corporate and operational
objectives and has a crucial role to play in ensuring the effective running of the organization or
business concern.
The key benefits of a good Risk Management are:
 Ensuring a better understanding of risks;
 Providing supporting tools and techniques to identify and appraise risk;
 The ability to communicate and share risk;
 The ability to take on more risk where appropriate and control this better;
 Reduce/minimize risk and maximize the more return upto optimal level
We need to manage risk to enable us to achieve our goals and meet our priorities within what are
often challenging circumstances. Risk Management will positively influence the way we allocate
resources in trying to achieve our goals

8. Conclusion
The Risk Management process will be ongoing, embedded in our culture and
have the potential to re-orientate us around performance and improvement. It
is not about eliminating risk but about understanding risk and managing it
more effectively, thereby enhancing performance.

9. Submitted by
RathisheshM
MFM
Manasagangotri
University of Mysore