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RISK MANAGEMENT

RISK MANAGEMENT. Raime Sultan Yılmazlar 2010503070 Industrial Engineering Department, Dokuz Eylül University,Turkey. Uncertainty. A general lack of knowledge (no lack), information about the contents There are some doubts as to have information about the content.

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RISK MANAGEMENT

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  1. RISK MANAGEMENT Raime Sultan Yılmazlar 2010503070 Industrial Engineering Department, Dokuz Eylül University,Turkey

  2. Uncertainty • A general lack of knowledge (no lack), information about the contents • There are some doubts as to have information about the content

  3. threat opportunityRisk RISK UncertaintyDanger Risk of incurring losses Negation

  4. Risk Management • What went wrong ? • What can be done before the incident ? • What can be done when the event occurs ?

  5. An appropriate risk management is not reactive, is proactive. • Protects against surprises,and reduces the effect of negative results. • Risks are translatable to advantage. • Performance of the project, completed within budget and time limits are appropriate.

  6. Types Of Risk Management • Operational Risk Management • Financial Risk Management • Market Risk Management • Credit Risk Management • Quantitative Risk Management • Commodity Risk Management • Bank Risk Management

  7. Nonprofit Risk Management • Currency Risk Management • Enterprise Risk Management • Project Risk Management • Integrated Risk Management • Technology Risk Management • Software Risk Management

  8. Operational Risk Management Operational risk management deals with technical failures and human errors.

  9. Financial Risk Management Financial risk management handles non-payment of clients and increased rate of interest.

  10. Market Risk Management Deals with different types of market risk, such as interest rate risk, equity risk, commodity risk, and currency risk.

  11. Credit Risk Management Deals with the risk related to the probability of nonpayment from the debtors.

  12. Quantitative Risk Management An effort is carried out to numerically ascertain the possibilities of the different adverse financial circumstances to handle the degree of loss that might occur from those circumstances.

  13. Commodity Risk Management Handles different types of commodity risks, such as price risk, political risk, quantity risk and cost risk.

  14. Bank Risk Management Deals with the handling of different types of risks faced by thebanks,for example, market risk, credit risk, liquidity risk, legal risk,operational risk and reputational risk.

  15. Nonprofit Risk Management This is a process where risk managementcompanies offer riskmanagement services on a non-profit seeking basis.

  16. Currency Risk Management Deals with changes in currency prices.

  17. Enterprise Risk Management Handles the risks faced by enterprises in accomplishing their goals.

  18. ProjectRisk Management Deals with particular risks associated with the undertaking of aproject.

  19. IntegratedRisk Management Integrated risk management refers to integrating risk data intothe strategic decision making of a company and taking decisions,which take into account the set risk tolerance degrees of adepartment. In other words, it is the supervision of market, credit,and liquidity risk at the same time or on a simultaneous basis.

  20. Technology Risk Management It is the process of managing the risks associated withimplementation of new technology.

  21. SoftwareRisk Management Deals with different types of risks associated with implementation of new softwares.

  22. 4 Main Components Of Risk Management • Risk Identification • Risk Analysis • Risk Mitigation • Risk Monitoring

  23. Risk Identification Determining what risks or hazards exist or are anticipated,their characteristics, remoteness in time, duration period, andpossible outcomes.

  24. Risk Analysis The aim of the risk analysis to carry out sufficient information about probability of risk,cost,planning and results.

  25. Risk Mitigation Risk mitigation intended to reduce the risk of being and effect of risk. Occurs as a result of countless daily decisions.

  26. Risk Monitoring

  27. Principles Of Risk Management • Create value • Be an integral part of organizational processes • Be part of decision making • Explicitly address uncertainty • Be systematic and structured • Be based on the best available information • Be tailored • Take into account human factors • Be transparent and inclusive • Be dynamic,iterative and responsive to change

  28. Risk Assessment A risk assessment is an important step in protecting workersandbusiness,as well as complying with the law.It helps to focus on the risks that really matter in workplace-the ones withthe potential to cause harm.

  29. There is always a risk. If there is a no activity, there isn't any risk.

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