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Risk Assessment Process Evaluation - Dissertation Example

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The dissertation "Risk Assessment Process Evaluation" tries to evaluate extensively the risk management planning process of Chesapeake Energy that was carried out as a group to identify and assess risks that affected and could affect Chesapeake Energy…
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Risk Assessment Process Evaluation
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Download file to see previous pages During the process of coming up with a good risk management plan one always thinks of ways to create better opportunities for their organization to strive so as to minimize risk, thus improving their organizations indirectly as they come up with ways of preventing potential risk (United States Congress House Committee on science, space, and technology, 1991, 39).Weaknesses One major weakness about the risk management planning process is that people only do it once at the beginning and assume that once they have covered the process their job is done and that any occurrence of future risk was unforeseeable. Thus, they relax on their job after they complete the first risk management process not knowing that it is continuous. If the risk management process is not done well it may fail to work as it may misguide the user on risks that are not relevant to his or her organization, thus this process should be done with a lot of care and precision and all steps should be followed to the letter. Another weakness is that the risk management process cannot capture all risks that might affect an organization and trying to achieve such a goal is a waste of time because it is impossible. Challenges faced while coming up with the Risk Management Planning Process While coming up with the risk management process we encountered various challenges or rather difficulties that affected us. We had to come up with various strategies to overcome them. The following are the challenges we encountered and how we strategized to overcome them. ...Download file to see next pagesRead More
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