risk-management.pdf

Risk management theory and practice

Transcript

1. Risk Management Theory and practice *** www.rmtap.com ***
2. Risk Risk is the risk of adverse outcome of the expected event, i.e. measurable probability of loss or loss of profits in any sphere of human activity. Structural characteristics of risk: • Event uncertainty (probability) • variation of outcomes *** www.rmtap.com ***
3. Risk management Risk management - targeted actions to limit or minimize risk in the system of economic relations. Benefits of risk management: • Increases revenue by reducing risk costs and increasing the efficiency of your organization 's funds • Can improve an organization 's ability to use speculative risk profits to recover from adverse net risk realization • Enables management to plan for the future with greater confidence and predictability *** www.rmtap.com ***
4. Objectives and objectives of risk management The ultimate goal of management risk is to make the most profit with an optimal profit-risk ratio acceptable to the entrepreneur. Tasks risk of management: • Continuous monitoring of the external and internal environment of the enterprise to identify risk factors; • Establishment and implementation of a risk management programme (including the use of risk assessment methods, risk analysis, and measures to reduce and eliminate adverse health events); • Assessment of the effectiveness of the risk management system (acceptability of the use of certain methods, consideration of new trends dictated by the market) *** www.rmtap.com ***
5. Process risk of management *** www.rmtap.com ***
6. Standards risk of management A number of standards have been developed worldwide to help organisations implement risk management systematically and effectively. These standards seek to establish a common view on frameworks, processes and practice, and are generally set by recognised international standards bodies or by industry groups. Risk management is a fast-moving discipline and standards are regularly supplemented and updated. Standards are normally voluntary, although adherence to a standard may be required by regulators or by contract. In practice, the following risk management standards are commonly used: • ISO 31000 2009 - Risk Management Principles and Guidelines • IRM/Alarm/AIRMIC 2002 - A Risk Management Standard - developed in 2002 by the UK's 3 main risk organisations. • ISO/IEC 31010:2009 - Risk Management - Risk Assessment Techniques • COSO 2004 - Enterprise Risk Management - Integrated Framework • OCEG "Red Book" 2.0: 2009 - a Governance, Risk and Compliance Capability Model *** www.rmtap.com ***
7. Rules risk of management • You can 't risk more than equity can afford • You have to think about the consequences of risk • You can 't risk a lot for a small one • A positive decision is taken only in the absence of doubt • Negative decisions are made in case of doubt • You can 't think there 's always only one solution. There may be other solutions *** www.rmtap.com ***