Techniques and Methods for Designing Risk Management for Organizations

Abstract

          Risk Management is a rational strategy used to identify, analyse, evaluate, manage, monitor, and communicate risks related to the activities of an organization or department. It is an organizational process. To help minimize losses and maximize opportunities for the organization. Findings Risk management is a process established to predict and reduce the negative effects of uncertainty. with planning Evaluate, manage, respond, follow up and communicating risks related to the organization's business, unit, or operating process. To reduce losses that may affect the organization to an acceptable level. This is in order to achieve the organization's objectives more efficiently. Risk management besides taking action to reduce risks. It also adds value to the organization. Risk assessment or analysis It considers the probability of occurrence (Likelihood) and impact (Impact) to use as a basis for risk management. The risk measurement criteria may be high, medium or low. Risk assessment methods may use quantitative and qualitative techniques together. Management should choose responses that keep the probability and impact of the risk at an acceptable level. When choosing a response An action plan for the response must be developed, specifying responsible parties, a timeline, desired results, and measurement. In addition, there must be control activities that ensure effective implementation of the plan. Therefore, risk management is an important tool for ensuring that Risk affects the organization arising from both external and internal factors. Receive complete management services or at an acceptable level As a result, operations will be more efficient and effective. But because of the risk various uncertainties Can change at any time Organizations should therefore implement appropriate risk management. and efficiency, including regular review of risk management operations So that the organization can cope with situations or risks in a timely manner.
          New knowledge Risk management is about transfer or transfer - Distributing / transferring risk (Risk Sharing / Spreading) is distributing risk in assets. or various processes To reduce the risk of loss, such as taking out insurance for damage that may occur. Including insurance, outsourcing, which transfers risk to an insurance company. and outside companies Making multiple copies of documents and distributing storage of valuable assets.
          Brief summary: Assessment or risk analysis. It considers the probability of occurrence (Likelihood) and impact (Impact) to use as a basis for risk management. The risk measurement criteria may be high, medium or low. Risk assessment methods may use a combination of quantitative and qualitative techniques. Management should choose responses that keep the probability and impact of the risk at an acceptable level. When choosing a response An action plan must be developed for the response, specifying responsible persons and a time period. desired results and measurement. In addition, there must be control activities that ensure effective implementation of the plan.