risk mgnt...ppt
TRANSCRIPT
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S.M.R.K-B.K-A.K Mahila
MahavidyalayaProject on: Risk ManagementBy: Kiran Umarani
BMS-I
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Quotes It seems to be a law of nature, inflexible and
inexorable, that those who will not risk cannot win.-John Paul Jones
To win without risk is to triumph without glory.-Pierre Corneille
Risk and time are opposite sides of the same coin,for if there were no tomorrow there would be no risk.Time transforms risk, and the nature of risk isshaped by the time horizon: the future is the playing
field.- Peter Bernstein
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What is risk?
A probability or threat ofa damage, injury, liability, loss, or other negativeoccurrence that is caused by external or
internal vulnerabilities, and that may be neutralizedthrough preemptive action.
Risk is the probability that a hazard will turn into a
disaster. Vulnerability and hazards are not dangerous,taken separately. But if they come together, theybecome a risk or, in other words, the probability thata disaster will happen.
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What is Risk Management?
Risk management is the identification, assessment,and prioritization of risks followed by coordinatedand economical application of resources to minimize,
monitor, and control the probability and/or impact ofunfortunate eventsor to maximize the realization ofopportunities.
Risk management is defined as identification,assessment and economic control of those risks thatendanger the assets and earning capacity of abusiness.
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Aims of Risk Management
Improvisation of targets
Minimizing of risk factors
Proper utilization of time
Efficiency of time
To be transparent and inclusive
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Types of risk management
Operational Risk Management
Financial Risk Management
Market Risk Management
Bank Risk Management
Currency Risk Management
Project Risk Management
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Process of Risk Management
Identify the Risks
Identify the Causes Identify the Controls
Establish your Risk Rating Descriptors
Add other Controls
Make a Decision Monitor and Review
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K
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Merits
Supporting strategic and business planning;
Supporting effective use of resources;
Promoting continuous improvement;
Fewer shocks and unwelcome surprises; Quick grasp of new opportunities;
Enhancing communication between Schools andDepartments;
Reassuring stakeholders
Helping focus internal audit programmed etc.
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Demerits
Involvement of uncontrollable variables.
Over dependence on easy methods for solvingcomplex process.
Non-information sharing between higher management
and bottom group resulting into bottom group beingisolated from the process.
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Thank You..