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PEMBELANJAAN PEMBELANJAAN PERUSAHAANPERUSAHAAN

PEMBELANJAAN PEMBELANJAAN PERUSAHAANPERUSAHAAN

LECTURE 9 – RISK LECTURE 9 – RISK MANAGEMENTMANAGEMENT

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General:General: Uncertainty associated with a future outcome Uncertainty associated with a future outcome

or eventor event

Corporate activities:Corporate activities:

The expected variance in profits, losses, or The expected variance in profits, losses, or cash flows arising from uncertain eventcash flows arising from uncertain event

RISKRISK

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Operating Risk:Operating Risk: The risk of loss arising from the daily The risk of loss arising from the daily

physical (non-financial) operating activities physical (non-financial) operating activities of a firmof a firm

Financial Risk:Financial Risk: The risk of loss arising from the financial The risk of loss arising from the financial

activities of a firmactivities of a firm

RISK CLASSIFICATIONRISK CLASSIFICATION

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GENERIC RISK GENERIC RISK MANAGEMENT PROCESSMANAGEMENT PROCESS

RiskIdentification

RiskMonitoring

RiskManagement

RiskQuantification

Define and identify all sources of

risk: actual, anticipated,

and perceived

Estimate the financial

impact on the firm of all pure and

speculative risks

identified

Decide how to manage pure

and speculative risks (through loss control,

loss financing or risk

reduction)

Track and assess the

performance of the risk

management strategy in

light of actual

experience

Feedback

PP/MB-IPB/10

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