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Risk Management
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Network dedicated to Risk Management
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Posted by: Syed on June 26, 2011 2:19PM CST
Risk Management.Risk management is simply a practice of systematically diagnosing, quantifying severity, and selecting cost effective approaches for minimizing the effect of threat realization of the risks to the organizationWhat is Risk? Risk is anything, event, practice, process, activity, etc which has an uncertain outcome In a business sense it is any threat to the achievement of organizational objectives Risk Management is the identification, Measurement, and management of events which may adversely impact organizational objectives There are three main types of business risks: - Financial Risks - directly impact financial position - Operational Risks - indirectly impact financial outcomes - Strategic Risks - impact viability of business |
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Posted by: Scott Smith on June 27, 2011 6:54AM CST
Nice Analogy, Syed.
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