Risk Management is the process of minimizing the risks in an organization. It starts with the identification and evaluation of risk followed by optimal use of resources to monitor and minimize the same.
Articles on Risk Management
The Project management body of knowledge (PMBOK) has laid down 12 principles. This article discusses about the various principles of Risk Management.
As per ISO 31000 Risk Management Process consists of the mailny 3 steps - Establishing the Context, Identification and Assessment.
Once the risk has been identified the HR manager approaches the line managers and their staff and questions them to assess and prioritize the risk.
The process of risk management not only involves controlling the threats or reducing their negative effects. It is a much deeper concept that also involves risk avoiding as well as risk taking.
A good risk management plan carries number of tools and strategies to mitigate risk. The strategy may be to avoid risk or transfer a component of it another project so that the impact is reduced.
The article discusses about various steps that can help the organizations in analyzing and evaluating a Risk Management Plan.
A risk treatment is mainly a part of an effective risk management plan. It details with the strategies on how to deal with the various types of risks.
The importance of Human Resource Management can not be neglected when companies are operating in such a volatile and unstable environment. The HRD plays a vital role in risk management.
Enterprise Risk Management includes all the tools and processes employed by an organization to manage and control risks and grab more opportunities in the market place.
Once the organization decides to go for Enterprise Risk Management, there are lots of considerations made for its successful implementation. Lets discuss these considerations in detail.
In stock market there is a very strong relationship between risk and return. Generally, greater the risk, greater the is the return. Risk is therefore central to stock markets.
Outsourcing or contracting out non-core services may deliver good results and substantial benefits to the organization. Nowadays, many company employ external sources and utilize their specialized services.
Risk management has evolved from being just a discipline to a full-fledged profession. There are lot of Career opportunities in Risk Management.
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