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Category : Risk Management

Risk Management Policies in an Organisation and Procedures

1.  In a short sentence for each, explain the meaning of these terms: Risk. Risk management. Risk appetite. Risk capacity. RISK: A risk is a potential and uncertain damage in the organisation or people in the organisation, which might be caused by internal and external factors of the organisation, risks should be economical, physical, psychological, and political, risks are not always negative; sometimes risks are taken by the organisation to improve their economic or environmental situation. RISK MANAGEMENT: Is the pr... More

Risk Management Help in Project Management

Risk management For effective risk management, it is not enough to merely identify potential risks to a project. While this is better than nothing, in order to fully realise the benefit of risk management processes, you need to also analyse (and document) how each risk identified may impact a project as well as the probability of their occurrence. Moreover, you need to have a strategy already in mind for addressing said risks should they come to pass. With respect given to these points, consider the following scenario: ‘You have been assigned... More
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