Nobody downloaded yet

Risk management - Assignment Example

Comments (0) Cite this document
Summary
Risk Management Question 1 Risk management principles In order for the organization to realize its risk management policies, several principles approved by the Council of Standards formulate the basic interpretation of the entire concept of risk management…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.8% of users find it useful
Risk management
Read TextPreview

Extract of sample "Risk management"

Download file to see previous pages Integrating risk assessment in every process at the organization improves the quality of decisions made in avoiding losses and eliminating uncertainties. The approach taken in risk management proposes that organizational processes and decisions adopt a thorough implementation of projected objectives. It therefore implies that risk management principles facilitate the integration of every level of coordination of organizational operations and functionalities. Inclusiveness of every organizational need in the success definition elevates the management of the organization to a vintage point enabling tackling of all challenges. Reliance on the latest form of information and of the best available quality enables the risk management concept an important organization development strategy since it enables anticipation and understanding. Accountability to the human society and every vital stakeholder in the projects under the organization ensures that the organization development is in tandem with the aspirations of the stakeholders and to whom accountability is expected. In a precise description, risk management enables the organization to handle all tasks in a responsible manner, cognizance of internal and external demands on the industry. The main principles as set out in Risk Management Standard AS/NZS ISO 31000 are briefly highlighted below. It is in order to state that risk management creates and protects value. Without risk management, the organization would encounter losses through various avenues including legal, security, and human health. When the organization applies risk management, it takes adequate measures to ensure that its objectives are achieved and losses minimized. Risk management is an important part of the organization’s activities and should be considered by all stakeholders in view of all processes. Without taking risk into account, decision makers would make choices without regard to important priorities. In view of risk management, managers and other decision makers cautiously undertake various activities and analyse various options before making choices. Uncertainty is one factor that risk management seeks to explicitly address. This is so considering that many threats and risks that a business encounters come unexpectedly and may bring massive losses to the organization. When risk management is done, the losses that may come with risks are minimized. The effectiveness of risk management depends on how it is done. When properly structured, and systematically and timely done, the results of the process are better compared to when otherwise done. Also, effective risk management involves the analysis of threats and risks based on available data and using the information available to predict possible outcomes of situations and their probabilities. However, in some cases, data is limited and decision makers have to stretch their minds in their risk management efforts. Risk management is not a standard procedure but depends much on the internal and external environments of an organization. This means that the risk management activities of one organization may not effectively apply for another business. In addition, cultural and human factors must be taken into account if effective risk management has to be done. This is so considering that people working for the organization or those external to the organization can affect the business’ ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Risk management Assignment Example | Topics and Well Written Essays - 2500 words”, n.d.)
Risk management Assignment Example | Topics and Well Written Essays - 2500 words. Retrieved from https://studentshare.org/management/1400498-risk-management
(Risk Management Assignment Example | Topics and Well Written Essays - 2500 Words)
Risk Management Assignment Example | Topics and Well Written Essays - 2500 Words. https://studentshare.org/management/1400498-risk-management.
“Risk Management Assignment Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.org/management/1400498-risk-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Risk management

Risk Management

...? Table of Contents Introduction ………………...……………………………………….. 2 Step One – Risk Identification ………...……………………………. 3 Step Two – Risk Measurement ……………………..………………. 4 Step Three – Risk Analysis ………………………………………… 4 Step Four – Decisions ………………………………………………. 5 Step Five - Implementation ………………………………………… 6 Step Six - Monitoring ……………………………………………....... 6 Step Seven – Policies …………………………………………………7 Conclusion ……………………..…………………………….……..... 7 References …………………………………………………………… 9 The Fukushima Disaster: Lessons in Risk Management I. Introduction The Fukushima disaster is probably one of the most terrifying nuclear disasters in recent memory. Before March 2011, it was...
10 Pages(2500 words)Essay

Risk management

...?Risk Management Question There is more to the determination of which of the two projects would fetch shareholders much wealth than the amounts of money being invested into the various projects and the expected Net Cash Flow. This hidden factor is the risk associated with each of the projects and this is where the principles of cash assets pricing model plays a lot of important role. The company is advised to invest in the acquisition of the new business in the Latvian logistics because that will increase the overall real assets of shareholders. Again, the company will be in a position to bargain on the premium they would put on the acquisition through the principles of CAPM to ensure that they “demand additional expected return... of...
6 Pages(1500 words)Essay

Risk management

...Risk Management Number Department Introduction It is a fact that the mechanical process of drilling through the seabed as a way of exploring and extracting oil lying in rock formations beneath the seabed comes with risks. The risk that accosts offshore operations are pervasive enough to touch on the very personnel doing the offshore drilling and the larger surrounding population which may be negatively affected by the consequences of offshore drilling. That risks are inextricably concomitant with offshore drilling is a matter that is underscored by the fact that offshore drilling readily presents environmental drawbacks because of the nature of materials...
11 Pages(2750 words)Essay

Risk management

...? This paper discusses risk management with respect to construction and project management. For this purpose Burj Khalifa is chosen on the basis of which risk management, risk information, data collection, risk identification, risk analysis, output analysis and discussion, recommendation for its improvement and future plans and steps will be talked about in detail. INTRODUCTION To understand the different aspects of risk management it is very important to first understand what exactly this whole practice is all about. Risk is basically the effect of...
11 Pages(2750 words)Assignment

Risk Management

...? Infrastructure project Risks Risk management Infrastructure project Risks Construction projects are undertaken within sophisticated and dynamic environments and as a result they are often faced with elevated levels of uncertainty. Such uncertainty levels are often compounded further by the constraint demands. Infrastructural construction industry has underwent significant changes over the last few years with much focus being directed towards limitation of risks and challenges encountered during the process. Risk assessment utilizes various tool combinations which helps in identification of those risks considered...
10 Pages(2500 words)Essay

Risk Management

...? Risk Management Supervisor: May 14, Risk Management Introduction Threats to desired stability are common phenomena and their prevention and management of their effects is an essential aspect of risk management. Risk management is important to the financial sector because of the sector’s sensitive scope that identifies vulnerability to threats. While the course has offered diversified elements of risk management, I considered some lessons and themes more significant. This paper identifies the important themes and makes recommendations to the U.S....
5 Pages(1250 words)Essay

Risk management

...as vital area of interest for the top management of firm. Several elements contribute to the success or failure of the company. CSR is one such variable that contributes to the well-being, reputation, and financial performance of the company. This paper seeks to investigate the impact of CSR practices on firm’s performance. A critical analysis of prior literature conducted in the same field will be provided in order to evaluate the causal relationship between the two variables. Impact of Corporate Social Responsibility (CSR) on Financial Performance Ways in which companies implement practices of corporate social responsibility differs from one another. These differences are based on factors such as respective industry...
8 Pages(2000 words)Research Paper

Risk Management

...EasyJet Table of Contents Introduction 3 Easy Jet: An Overview 3 Major Risks of EasyJet 4 Intensity and Impact of these risks: Risk Matrix 11 Strategies: To reduce the possible risk 14 Corporate Governance 17 Conclusion 18 Reference 19 Bibliography 23 Introduction This report aims to offer an insight into the inherent risks of an organisation. The intensity of these risks is very much significant to develop a strategy for the same. The strategies have been discussed in the later part. Shareholders are very much bothered about this risk, as they are worried about their investments. It is the responsibility of the managers to mitigate the risk as much as possible and create shareholders’ value. Carrying out operational and financial... ...
15 Pages(3750 words)Essay

Risk management

...Risk Management Table of Contents Risk Management Table of Contents 2 Risk Assessment 4 Health & Safety Legislation 6 Fire and Rescue Services Act,2004 7 Emphasis on ‘Prevention’ 8 Integrated Risk Management 10 Examples 11 Introduction Risk can be described as combination of threats, vulnerabilities and their impacts. If it is possible to reduce any of the above factors, the risk can be minimized. Threat can be arise due to natural, technological and man-made reason and can harm the assets. And the threat is also exploited by vulnerabilities due to a weak security system. All of these...
10 Pages(2500 words)Essay

Risk Management

...Risk assessment of the Question 1. Three information assets of an organization to evaluate for risk management Data for question 1: Switch L47 connects a network to the internet. It has two vulnerabilities: (1) susceptibility to hardware failure, with a likelihood of 0.2, and (2) susceptibility to an SNMP buffer overflow attack, with a likelihood of 0.1. This switch has an impact rating of 90 and has no current controls in place. There is a 75 percent certainty of the assumptions and data. Server WebSrv6 hosts a company Web site and performs e-commerce transactions. It has Web server software that is vulnerable to attack via invalid Unicode values. The likelihood of such an attack is estimated at 0.1. The server has been assigned... . It is...
5 Pages(1250 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Risk management for FREE!

Contact Us